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Ganesha Ecosphere fiscal Q1 profit climbs 23.5% YOY

Ganesha Ecosphere Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 2.62 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 3.03 rupees per share.

EPS fell 7.0% year over year from 2.81 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 52.8 million rupees, an increase of 23.5% from 42.8 million rupees in the prior-year period.

The normalized profit margin rose to 3.2% from 2.7% in the year-earlier period.

Total revenue grew 5.4% on an annual basis to 1.66 billion rupees from 1.57 billion rupees, and total operating expenses climbed from the prior-year period to 1.53 billion rupees from 1.46 billion rupees.

Reported net income fell 5.9% from the prior-year period to 57.9 million rupees, or 2.87 rupees per share, from 61.6 million rupees, or 4.05 rupees per share.

As of Aug. 10, US$1 was equivalent to 63.80 Indian rupees.