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Himatsingka Seide fiscal Q1 profit climbs 23.2% YOY

Himatsingka Seide Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.60 Indian rupees per share, a gain of 23.3% from 1.30 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 157.2 million rupees, a gain of 23.2% from 127.6 million rupees in the year-earlier period.

The normalized profit margin rose to 3.2% from 2.7% in the year-earlier period.

Total revenue increased 5.4% year over year to 4.94 billion rupees from 4.68 billion rupees, and total operating expenses grew on an annual basis to 4.51 billion rupees from 4.32 billion rupees.

Reported net income increased 30.3% year over year to 215.5 million rupees, or 2.19 rupees per share, from 165.4 million rupees, or 1.68 rupees per share.

As of Aug. 7, US$1 was equivalent to 61.24 Indian rupees.