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Virtual Global Education fiscal Q1 profit climbs 5.7% YOY

Virtual Global Education Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 203,880 rupees, a rise of 5.7% from 192,850 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

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

Total revenue grew 6.9% on an annual basis to 26.1 million rupees from 24.4 million rupees, and total operating expenses increased 7.0% on an annual basis to 25.8 million rupees from 24.1 million rupees.

Reported net income came to 326,200 rupees, compared with 308,550 rupees in the year-earlier period.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.