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Sarla Performance Fibers fiscal Q1 profit climbs 49.6% YOY

Sarla Performance Fibers Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 1.00 Indian rupees per share, a gain of 24.9% from 80 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 83.6 million rupees, an increase of 49.6% from 55.9 million rupees in the year-earlier period.

The normalized profit margin climbed to 10.5% from 6.8% in the year-earlier period.

Total revenue fell year over year to 799.6 million rupees from 821.3 million rupees, and total operating expenses decreased 9.9% year over year to 665.2 million rupees from 737.9 million rupees.

Reported net income rose 58.2% from the prior-year period to 100.2 million rupees, or 1.20 rupees per share, from 63.3 million rupees, or 91 paise per share.

As of July 31, US$1 was equivalent to 63.88 Indian rupees.