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Sanrhea Technical Textiles fiscal Q1 profit climbs YOY

Sanrhea Technical Textiles Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 18 Indian paise per share, a gain from 6 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 546,250 rupees, an increase from 168,750 rupees in the prior-year period.

The normalized profit margin climbed to 0.8% from 0.3% in the year-earlier period.

Total revenue grew year over year to 69.1 million rupees from 66.4 million rupees, and total operating expenses rose on an annual basis to 65.6 million rupees from 63.0 million rupees.

Reported net income rose from the prior-year period to 599,000 rupees, or 20 paise per share, from 270,000 rupees, or 9 paise per share.

As of Aug. 12, US$1 was equivalent to 64.75 Indian rupees.