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Page Industries fiscal Q1 profit climbs 18.8% YOY

Page Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 53.89 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 59.34 rupees per share.

EPS rose 18.8% year over year from 45.37 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 601.1 million rupees, a gain of 18.8% from 506.0 million rupees in the prior-year period.

The normalized profit margin increased to 13.7% from 13.4% in the year-earlier period.

Total revenue increased 15.9% year over year to 4.38 billion rupees from 3.78 billion rupees, and total operating expenses increased 15.9% on an annual basis to 3.42 billion rupees from 2.95 billion rupees.

Reported net income rose 16.4% from the prior-year period to 631.8 million rupees, or 56.64 rupees per share, from 543.0 million rupees, or 48.68 rupees per share.

As of Aug. 13, US$1 was equivalent to 65.29 Indian rupees.