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Pochiraju Industries fiscal Q1 profit climbs 64.2% YOY

Pochiraju Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.48 Indian rupees per share, an increase of 64.7% from 90 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 28.0 million rupees, an increase of 64.2% from 17.1 million rupees in the year-earlier period.

The normalized profit margin climbed to 7.7% from 7.7% in the year-earlier period.

Total revenue rose 62.9% year over year to 361.6 million rupees from 222.0 million rupees, and total operating expenses grew 64.8% from the prior-year period to 301.2 million rupees from 182.8 million rupees.

Reported net income grew 80.6% year over year to 43.8 million rupees, or 2.32 rupees per share, from 24.2 million rupees, or 1.28 rupees per share.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.