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Automatic Systems Q2 profit climbs 8.6% YOY

Automatic Systems Ltd. said its normalized net income for the second quarter amounted to 2.14 Mauritian rupees per share, an increase of 7.8% from 1.98 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 7.6 million rupees, a gain of 8.6% from 7.0 million rupees in the prior-year period.

The normalized profit margin fell to 7.4% from 7.4% in the year-earlier period.

Total revenue grew 8.9% year over year to 101.8 million rupees from 93.5 million rupees, and total operating expenses grew 9.4% from the prior-year period to 89.4 million rupees from 81.7 million rupees.

Reported net income grew 12.1% on an annual basis to 10.2 million rupees, or 2.88 rupees per share, from 9.1 million rupees, or 2.59 rupees per share.

As of Aug. 3, US$1 was equivalent to 35.25 Mauritian rupees.