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Rasoya Proteins fiscal Q1 profit climbs 49.4% YOY

Rasoya Proteins Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 9 Indian paise per share, an increase of 55.9% from 5 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 141.6 million rupees, an increase of 49.4% from 94.8 million rupees in the prior-year period.

The normalized profit margin increased to 3.8% from 3.2% in the year-earlier period.

Total revenue climbed 25.6% year over year to 3.73 billion rupees from 2.97 billion rupees, and total operating expenses climbed 25.4% on an annual basis to 3.40 billion rupees from 2.71 billion rupees.

Reported net income grew 43.7% year over year to 198.3 million rupees, or 12 paise per share, from 138.0 million rupees, or 8 paise per share.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.