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Radix Industries fiscal Q2 profit climbs YOY

Radix Industries (India) Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 78 Indian paise per share, a gain from 27 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 7.8 million rupees, an increase from 2.7 million rupees in the prior-year period.

The normalized profit margin climbed to 11.3% from 6.2% in the year-earlier period.

Total revenue grew 61.8% year over year to 69.6 million rupees from 43.0 million rupees, and total operating expenses grew 47.4% year over year to 56.7 million rupees from 38.5 million rupees.

Reported net income increased on an annual basis to 8.3 million rupees, or 83 paise per share, from 3.2 million rupees, or 32 paise per share.

As of Oct. 30, US$1 was equivalent to 61.37 Indian rupees.