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Tuni Textile Mills fiscal Q1 profit climbs YOY

Tuni Textile Mills Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 416,250 rupees, an increase from 181,880 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 1.0% from 0.4% in the year-earlier period.

Total revenue declined year over year to 42.1 million rupees from 42.9 million rupees, and total operating expenses declined year over year to 39.3 million rupees from 40.7 million rupees.

Reported net income totaled 164,000 rupees, compared with 2.4 million rupees, or 2 paise per share, in the prior-year period.

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