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Sangam (India) fiscal Q2 profit climbs 49.6% YOY

Sangam (India) Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 4.44 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.25 rupees per share.

EPS rose 49.4% year over year from 2.97 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 175.1 million rupees, a gain of 49.6% from 117.1 million rupees in the prior-year period.

The normalized profit margin increased to 4.4% from 3.2% in the year-earlier period.

Total revenue rose 8.2% year over year to 3.99 billion rupees from 3.69 billion rupees, and total operating expenses increased 6.7% year over year to 3.57 billion rupees from 3.34 billion rupees.

Reported net income grew 55.8% from the prior-year period to 186.5 million rupees, or 4.73 rupees per share, from 119.7 million rupees, or 3.04 rupees per share.

As of Nov. 5, US$1 was equivalent to 65.90 Indian rupees.