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Kamadgiri Fashion fiscal Q1 profit climbs 96.7% YOY

Kamadgiri Fashion Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 1.83 Indian rupees per share, an increase of 96.5% from 93 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.3 million rupees, a gain of 96.7% from 4.7 million rupees in the prior-year period.

The normalized profit margin rose to 1.6% from 0.9% in the year-earlier period.

Total revenue grew 8.9% on an annual basis to 581.1 million rupees from 533.6 million rupees, and total operating expenses rose 6.4% from the prior-year period to 540.5 million rupees from 508.1 million rupees.

Reported net income rose 31.7% year over year to 6.5 million rupees, or 1.29 rupees per share, from 4.9 million rupees, or 98 paise per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.