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Ganesha Ecosphere fiscal Q1 profit climbs 26.5% YOY

Ganesha Ecosphere Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 2.81 Indian rupees per share, an increase of 26.8% from 2.22 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 42.8 million rupees, a gain of 26.5% from 33.8 million rupees in the year-earlier period.

The normalized profit margin fell to 2.7% from 3.6% in the year-earlier period.

Total revenue grew 65.4% on an annual basis to 1.57 billion rupees from 950.8 million rupees, and total operating expenses grew 66.1% year over year to 1.46 billion rupees from 877.6 million rupees.

Reported net income grew 13.8% from the prior-year period to 61.6 million rupees, or 4.05 rupees per share, from 54.1 million rupees, or 3.55 rupees per share.

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