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Relaxo Footwears fiscal Q1 profit climbs YOY

Relaxo Footwears Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.71 Indian rupees per share, an increase from 1.67 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 205.9 million rupees, a gain from 200.5 million rupees in the prior-year period.

The normalized profit margin fell to 5.5% from 6.4% in the year-earlier period.

Total revenue grew 19.1% year over year to 3.72 billion rupees from 3.12 billion rupees, and total operating expenses grew 21.4% year over year to 3.34 billion rupees from 2.75 billion rupees.

Reported net income increased 7.2% on an annual basis to 231.3 million rupees, or 1.93 rupees per share, from 215.7 million rupees, or 1.80 rupees per share.

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