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IntraSoft Technologies fiscal Q1 profit climbs 47.7% YOY

IntraSoft Technologies Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 60 Indian paise per share, a gain of 46.6% from 41 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 8.8 million rupees, an increase of 47.7% from 6.0 million rupees in the year-earlier period.

The normalized profit margin declined to 0.7% from 1.0% in the year-earlier period.

Total revenue grew 97.6% year over year to 1.18 billion rupees from 595.7 million rupees, and total operating expenses climbed 98.0% on an annual basis to 1.17 billion rupees from 592.2 million rupees.

Reported net income increased 46.8% on an annual basis to 12.2 million rupees, or 83 paise per share, from 8.3 million rupees, or 57 paise per share.

As of July 20, US$1 was equivalent to 63.64 Indian rupees.