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Sunil Industries fiscal Q1 profit climbs YOY

Sunil Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 72 Indian paise per share, an increase from 71 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.0 million rupees, a gain from 3.0 million rupees in the year-earlier period.

The normalized profit margin dropped to 1.0% from 1.3% in the year-earlier period.

Total revenue rose 30.5% on an annual basis to 302.0 million rupees from 231.4 million rupees, and total operating expenses rose 30.0% year over year to 291.5 million rupees from 224.3 million rupees.

Reported net income increased from the prior-year period to 3.4 million rupees, or 80 paise per share, from 3.3 million rupees, or 78 paise per share.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.