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Ambika Cotton Mills fiscal Q1 profit climbs 62.8% YOY

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Ambika Cotton Mills fiscal Q1 profit climbs 62.8% YOY

Ambika Cotton Mills Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 19.25 Indian rupees per share, a gain of 62.9% from 11.82 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 113.1 million rupees, a gain of 62.8% from 69.4 million rupees in the year-earlier period.

The normalized profit margin rose to 9.6% from 6.7% in the year-earlier period.

Total revenue increased 13.8% on an annual basis to 1.17 billion rupees from 1.03 billion rupees, and total operating expenses climbed 17.6% on an annual basis to 972.0 million rupees from 826.5 million rupees.

Reported net income rose 55.7% year over year to 132.0 million rupees, or 22.47 rupees per share, from 84.8 million rupees, or 14.43 rupees per share.

As of Aug. 8, US$1 was equivalent to 61.15 Indian rupees.