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Mihika Industries fiscal Q2 profit climbs YOY

Mihika Industries Ltd said its normalized net income for the fiscal second quarter ended Sept. 30, 2014, amounted to 1.8 million rupees, a rise from 4,380 rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 86.1% from 0.5% in the year-earlier period.

Total revenue rose year over year to 2.1 million rupees from 937,000 rupees, and total operating expenses climbed year over year to 4.2 million rupees from 1.2 million rupees.

Reported net income increased on an annual basis to 2.0 million rupees, or 20 paise per share, from 5,000 rupees.

As of Jan. 15, US$1 was equivalent to 61.77 Indian rupees.