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Sacheta Metals fiscal Q1 profit climbs 27.4% YOY

Sacheta Metals Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 7 Indian paise per share, an increase of 13.5% from 6 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.4 million rupees, a gain of 27.4% from 1.1 million rupees in the prior-year period.

The normalized profit margin increased to 0.9% from 0.8% in the year-earlier period.

Total revenue rose 16.1% on an annual basis to 161.2 million rupees from 138.8 million rupees, and total operating expenses grew 16.3% from the prior-year period to 161.0 million rupees from 138.4 million rupees.

Reported net income increased 28.2% year over year to 1.6 million rupees, or 8 paise per share, from 1.2 million rupees, or 7 paise per share.

As of July 31, US$1 was equivalent to 60.88 Indian rupees.