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Madhusudan Industries fiscal Q1 profit climbs YOY

Madhusudan Industries Ltd said its normalized net income for the fiscal first quarter ended June 30 was 26 Indian paise per share, a gain from 10 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 1.4 million rupees, a gain from 551,250 rupees in the prior-year period.

Reported net income grew year over year to 2.2 million rupees, or 41 paise per share, from 882,000 rupees, or 16 paise per share.

As of Aug. 7, US$1 was equivalent to 63.74 Indian rupees.