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Indag Rubber fiscal Q2 profit climbs 15.8% YOY

Indag Rubber Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 was 2.77 Indian rupees per share, an increase of 15.8% from 2.40 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 72.9 million rupees, a gain of 15.8% from 62.9 million rupees in the prior-year period.

The normalized profit margin increased to 12.5% from 10.2% in the year-earlier period.

Total revenue fell 5.3% year over year to 583.1 million rupees from 615.6 million rupees, and total operating expenses fell 5.7% on an annual basis to 486.2 million rupees from 515.7 million rupees.

Reported net income increased 14.4% on an annual basis to 87.6 million rupees, or 3.34 rupees per share, from 76.5 million rupees, or 2.92 rupees per share.

As of Oct. 8, US$1 was equivalent to 61.39 Indian rupees.