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Mac Charles fiscal Q1 profit climbs 42.8% YOY

Mac Charles (India) said its normalized net income for the fiscal first quarter ended June 30 came to 2.04 Indian rupees per share, an increase of 42.7% from 1.43 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 26.8 million rupees, a gain of 42.8% from 18.7 million rupees in the prior-year period.

The normalized profit margin climbed to 20.2% from 15.5% in the year-earlier period.

Total revenue rose 9.9% on an annual basis to 132.6 million rupees from 120.6 million rupees, and total operating expenses declined 11.8% year over year to 89.2 million rupees from 101.1 million rupees.

Reported net income grew 35.3% on an annual basis to 28.8 million rupees, or 2.19 rupees per share, from 21.3 million rupees, or 1.62 rupees per share.

As of Aug. 6, US$1 was equivalent to 61.34 Indian rupees.