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Seasons Textiles fiscal Q1 profit climbs 30.3% YOY

Seasons Textiles Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 16 Indian paise per share, an increase of 30.4% from 12 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 1.2 million rupees, a gain of 30.3% from 896,250 rupees in the prior-year period.

The normalized profit margin increased to 1.3% from 1.3% in the year-earlier period.

Total revenue climbed 30.3% on an annual basis to 87.0 million rupees from 66.8 million rupees, and total operating expenses rose 31.5% year over year to 78.2 million rupees from 59.5 million rupees.

Reported net income grew 35.9% from the prior-year period to 2.6 million rupees, or 34 paise per share, from 1.9 million rupees, or 25 paise per share.

As of Aug. 11, US$1 was equivalent to 61.19 Indian rupees.