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Neo Corp International fiscal Q2 profit climbs YOY

Neo Corp International Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 was 3.06 Indian rupees per share, an increase from 2.96 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 116.4 million rupees, an increase from 112.6 million rupees in the prior-year period.

The normalized profit margin declined to 3.5% from 4.1% in the year-earlier period.

Total revenue climbed 20.2% year over year to 3.29 billion rupees from 2.74 billion rupees, and total operating expenses increased 19.5% on an annual basis to 2.98 billion rupees from 2.49 billion rupees.

Reported net income grew 5.6% from the prior-year period to 134.1 million rupees, or 3.53 rupees per share, from 127.0 million rupees, or 3.34 rupees per share.

As of Nov. 17, US$1 was equivalent to 61.80 Indian rupees.