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Diamond Estates Wines & Spirits fiscal Q2 profit climbs 19.8% YOY

Diamond Estates Wines & Spirits Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 came to C$87,120, a rise of 19.8% from C$72,700 in the year-earlier period.

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

The normalized profit margin dropped to 1.1% from 1.2% in the year-earlier period.

Total revenue increased 42.9% year over year to C$8.4 million from C$5.9 million, and total operating expenses rose 41.9% from the prior-year period to C$7.6 million from C$5.4 million.

Reported net income grew 38.3% on an annual basis to C$214,220, or 0 cents per share, from C$154,870, or 0 cents per share.