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Binny Mills fiscal Q2 profit climbs 45.9% YOY

Binny Mills Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 was 55 Indian paise per share, a gain of 45.0% from 38 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.8 million rupees, an increase of 45.9% from 1.2 million rupees in the year-earlier period.

The normalized profit margin rose to 9.2% from 7.0% in the year-earlier period.

Total revenue climbed 10.9% on an annual basis to 19.2 million rupees from 17.3 million rupees, and total operating expenses increased 6.7% year over year to 16.4 million rupees from 15.4 million rupees.

Reported net income grew 43.4% from the prior-year period to 1.8 million rupees, or 57 paise per share, from 1.3 million rupees, or 40 paise per share.

As of Oct. 30, US$1 was equivalent to 65.41 Indian rupees.