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Asian Star fiscal Q1 profit climbs 59.6% YOY

Asian Star Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 9.63 Indian rupees per share, a gain of 59.7% from 6.03 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 154.1 million rupees, a gain of 59.6% from 96.5 million rupees in the year-earlier period.

The normalized profit margin rose to 1.8% from 1.5% in the year-earlier period.

Total revenue increased 32.5% year over year to 8.54 billion rupees from 6.45 billion rupees, and total operating expenses rose 31.8% from the prior-year period to 8.23 billion rupees from 6.25 billion rupees.

Reported net income rose 55.7% year over year to 196.7 million rupees, or 12.29 rupees per share, from 126.3 million rupees, or 7.89 rupees per share.

As of Aug. 11, US$1 was equivalent to 61.19 Indian rupees.