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Deco-Mica fiscal Q1 profit climbs 19.0% YOY

Deco-Mica Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 67 Indian paise per share, an increase of 20.4% from 56 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 2.8 million rupees, a gain of 19.0% from 2.4 million rupees in the year-earlier period.

The normalized profit margin increased to 2.7% from 2.5% in the year-earlier period.

Total revenue rose 11.9% on an annual basis to 104.1 million rupees from 93.0 million rupees, and total operating expenses increased 9.9% year over year to 97.0 million rupees from 88.3 million rupees.

Reported net income increased 38.0% from the prior-year period to 2.8 million rupees, or 67 paise per share, from 2.0 million rupees, or 48 paise per share.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.