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Sintex Industries fiscal Q2 profit climbs 67.3% YOY

Sintex Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 3.11 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 3.06 rupees per share.

EPS climbed 55.4% year over year from 2.00 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.04 billion rupees, an increase of 67.3% from 623.9 million rupees in the prior-year period.

The normalized profit margin rose to 6.2% from 4.6% in the year-earlier period.

Total revenue rose 23.0% on an annual basis to 16.72 billion rupees from 13.60 billion rupees, and total operating expenses increased 19.9% on an annual basis to 14.45 billion rupees from 12.05 billion rupees.

Reported net income increased 47.3% from the prior-year period to 1.07 billion rupees, or 3.20 rupees per share, from 729.2 million rupees, or 2.34 rupees per share.

As of Oct. 13, US$1 was equivalent to 61.02 Indian rupees.