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Nandan Denim fiscal Q1 profit climbs 17.6% YOY

Nandan Denim Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 2.19 Indian rupees per share, an increase of 17.5% from 1.87 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 99.8 million rupees, an increase of 17.6% from 84.9 million rupees in the year-earlier period.

The normalized profit margin dropped to 3.8% from 4.1% in the year-earlier period.

Total revenue rose 28.6% year over year to 2.64 billion rupees from 2.05 billion rupees, and total operating expenses increased 30.3% from the prior-year period to 2.39 billion rupees from 1.83 billion rupees.

Reported net income increased 20.7% from the prior-year period to 114.7 million rupees, or 2.52 rupees per share, from 95.1 million rupees, or 2.09 rupees per share.

As of Aug. 8, US$1 was equivalent to 61.15 Indian rupees.