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Shukra Jewellery fiscal Q1 profit climbs 59.8% YOY

Shukra Jewellery Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 121,880 rupees, an increase of 59.8% from 76,250 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 0.2% from 0.1% in the year-earlier period.

Total revenue declined 33.5% on an annual basis to 54.1 million rupees from 81.4 million rupees, and total operating expenses fell 33.7% from the prior-year period to 53.9 million rupees from 81.3 million rupees.

Reported net income came to 195,000 rupees, compared with 122,000 rupees in the prior-year period.

As of July 31, US$1 was equivalent to 60.88 Indian rupees.