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Lawreshwar Polymers fiscal Q1 profit climbs 7.3% YOY

Lawreshwar Polymers Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 43 Indian paise per share, an increase of 7.1% from 40 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.8 million rupees, an increase of 7.3% from 5.4 million rupees in the year-earlier period.

The normalized profit margin increased to 2.6% from 2.2% in the year-earlier period.

Total revenue decreased 6.0% on an annual basis to 228.3 million rupees from 242.8 million rupees, and total operating expenses declined 6.7% year over year to 215.9 million rupees from 231.4 million rupees.

Reported net income grew 14.1% from the prior-year period to 6.7 million rupees, or 49 paise per share, from 5.8 million rupees, or 43 paise per share.

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