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Supertex Industries fiscal Q1 profit climbs 55.6% YOY

Supertex Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 1.8 million rupees, an increase of 55.6% from 1.1 million rupees in the prior-year period.

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

The normalized profit margin climbed to 1.5% from 0.8% in the year-earlier period.

Total revenue fell 21.6% on an annual basis to 115.1 million rupees from 146.8 million rupees, and total operating expenses fell 22.5% on an annual basis to 111.8 million rupees from 144.3 million rupees.

Reported net income grew 55.6% year over year to 2.8 million rupees, or 25 paise per share, from 1.8 million rupees.

As of July 30, US$1 was equivalent to 60.35 Indian rupees.