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Ajanta Soya fiscal Q1 profit climbs YOY

Ajanta Soya Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 59 Indian paise per share, an increase from 15 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 9.2 million rupees, an increase from 2.3 million rupees in the prior-year period.

The normalized profit margin climbed to 0.6% from 0.2% in the year-earlier period.

Total revenue rose 7.8% on an annual basis to 1.54 billion rupees from 1.43 billion rupees, and total operating expenses increased 6.5% on an annual basis to 1.53 billion rupees from 1.43 billion rupees.

Reported net income rose year over year to 9.9 million rupees, or 64 paise per share, from 4.4 million rupees, or 28 paise per share.

As of Aug. 13, US$1 was equivalent to 65.29 Indian rupees.