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Kanco Tea & Industries fiscal Q2 profit climbs 9.3% YOY

Kanco Tea & Industries Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 10.13 Indian rupees per share, an increase of 7.0% from 9.47 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 53.0 million rupees, a gain of 9.3% from 48.5 million rupees in the prior-year period.

The normalized profit margin declined to 35.4% from 36.7% in the year-earlier period.

Total revenue rose 13.3% on an annual basis to 149.6 million rupees from 132.0 million rupees, and total operating expenses fell on an annual basis to 64.8 million rupees from 66.5 million rupees.

Reported net income grew 11.6% year over year to 84.8 million rupees, or 16.20 rupees per share, from 76.0 million rupees, or 14.84 rupees per share.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.