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Monte Carlo Fashions fiscal Q2 profit climbs 73.7% YOY

Monte Carlo Fashions Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 5.91 Indian rupees per share, a gain of 73.7% from 3.40 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 128.5 million rupees, a gain of 73.7% from 73.9 million rupees in the year-earlier period.

The normalized profit margin rose to 9.4% from 5.9% in the year-earlier period.

Total revenue increased 8.7% year over year to 1.37 billion rupees from 1.26 billion rupees, and total operating expenses grew on an annual basis to 1.17 billion rupees from 1.14 billion rupees.

Reported net income rose 75.2% from the prior-year period to 136.3 million rupees, or 6.27 rupees per share, from 77.8 million rupees, or 3.58 rupees per share.

As of Nov. 9, US$1 was equivalent to 66.41 Indian rupees.