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Jagan Lamps fiscal Q2 profit climbs YOY

Jagan Lamps Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30, 2014, amounted to 83 Indian paise per share, a gain from 26 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.7 million rupees, a gain from 1.7 million rupees in the year-earlier period.

The normalized profit margin climbed to 11.4% from 6.3% in the year-earlier period.

Total revenue grew 79.6% year over year to 50.0 million rupees from 27.8 million rupees, and total operating expenses increased 62.0% on an annual basis to 40.8 million rupees from 25.2 million rupees.

Reported net income increased year over year to 5.2 million rupees, or 76 paise per share, from 1.3 million rupees, or 19 paise per share.

As of Jan. 6, US$1 was equivalent to 63.33 Indian rupees.