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Damodar Industries fiscal Q2 profit climbs 17.6% YOY

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Global M&A by the Numbers Q4 2023

Damodar Industries fiscal Q2 profit climbs 17.6% YOY

Damodar Industries Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 2.27 Indian rupees per share, a gain of 17.6% from 1.93 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 25.2 million rupees, a gain of 17.6% from 21.5 million rupees in the year-earlier period.

The normalized profit margin rose to 1.7% from 1.5% in the year-earlier period.

Total revenue increased on an annual basis to 1.50 billion rupees from 1.48 billion rupees, and total operating expenses increased from the prior-year period to 1.43 billion rupees from 1.39 billion rupees.

Reported net income rose 15.2% on an annual basis to 26.1 million rupees, or 2.35 rupees per share, from 22.7 million rupees, or 2.04 rupees per share.

As of Oct. 30, US$1 was equivalent to 65.41 Indian rupees.