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Mac Charles fiscal Q1 profit climbs 28.3% YOY

Mac Charles (India) said its normalized net income for the fiscal first quarter ended June 30 amounted to 2.62 Indian rupees per share, an increase of 28.8% from 2.04 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 34.3 million rupees, an increase of 28.3% from 26.8 million rupees in the prior-year period.

The normalized profit margin rose to 21.4% from 20.2% in the year-earlier period.

Total revenue climbed 21.1% year over year to 160.5 million rupees from 132.6 million rupees, and total operating expenses climbed 19.5% year over year to 106.5 million rupees from 89.2 million rupees.

Reported net income increased 30.1% on an annual basis to 37.5 million rupees, or 2.86 rupees per share, from 28.8 million rupees, or 2.19 rupees per share.

As of Sept. 4, US$1 was equivalent to 66.69 Indian rupees.