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V-Mart Retail fiscal Q1 profit climbs 26.0% YOY

V-Mart Retail Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 4.72 Indian rupees per share, an increase of 26.1% from 3.74 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 84.8 million rupees, an increase of 26.0% from 67.2 million rupees in the year-earlier period.

The normalized profit margin fell to 5.1% from 5.7% in the year-earlier period.

Total revenue grew 39.6% on an annual basis to 1.65 billion rupees from 1.18 billion rupees, and total operating expenses rose 42.1% from the prior-year period to 1.51 billion rupees from 1.06 billion rupees.

Reported net income increased 26.3% year over year to 90.3 million rupees, or 5.03 rupees per share, from 71.5 million rupees, or 3.98 rupees per share.

As of July 21, US$1 was equivalent to 60.32 Indian rupees.