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Banswara Syntex fiscal Q2 profit climbs 69.4% YOY

Banswara Syntex Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 3.19 Indian rupees per share, a gain of 69.8% from 1.88 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 54.1 million rupees, a gain of 69.4% from 31.9 million rupees in the year-earlier period.

The normalized profit margin rose to 1.7% from 1.0% in the year-earlier period.

Total revenue climbed year over year to 3.25 billion rupees from 3.21 billion rupees, and total operating expenses came to 3.00 billion rupees, compared with 2.98 billion rupees in the year-earlier period.

Reported net income increased 85.1% on an annual basis to 54.1 million rupees, or 3.19 rupees per share, from 29.2 million rupees, or 1.72 rupees per share.

As of Nov. 5, US$1 was equivalent to 65.90 Indian rupees.