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Kalyani Forge fiscal Q2 profit climbs YOY

Kalyani Forge Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 2.83 Indian rupees per share, an increase from 74 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 10.3 million rupees, an increase from 2.7 million rupees in the year-earlier period.

The normalized profit margin rose to 1.6% from 0.4% in the year-earlier period.

Total revenue fell on an annual basis to 643.5 million rupees from 664.2 million rupees, and total operating expenses decreased from the prior-year period to 639.7 million rupees from 648.5 million rupees.

Reported net income rose on an annual basis to 10.3 million rupees, or 2.83 rupees per share, from 2.9 million rupees, or 80 paise per share.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.