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Orient Beverages fiscal Q1 profit climbs 19.4% YOY

Orient Beverages Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 2.13 Indian rupees per share, a gain of 18.5% from 1.79 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.6 million rupees, an increase of 19.4% from 3.9 million rupees in the year-earlier period.

The normalized profit margin fell to 6.6% from 6.6% in the year-earlier period.

Total revenue rose 19.5% year over year to 69.8 million rupees from 58.4 million rupees, and total operating expenses increased 18.5% on an annual basis to 63.3 million rupees from 53.4 million rupees.

Reported net income grew 19.4% on an annual basis to 7.4 million rupees, or 3.40 rupees per share, from 6.2 million rupees, or 2.87 rupees per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.