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Seasons Textiles fiscal Q2 profit climbs 30.0% YOY

Seasons Textiles Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 was 17 Indian paise per share, an increase of 31.3% from 13 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 1.2 million rupees, an increase of 30.0% from 957,500 rupees in the year-earlier period.

The normalized profit margin fell to 1.1% from 1.3% in the year-earlier period.

Total revenue increased 48.6% year over year to 111.7 million rupees from 75.1 million rupees, and total operating expenses climbed 51.3% from the prior-year period to 99.5 million rupees from 65.7 million rupees.

Reported net income fell 35.1% from the prior-year period to 1.4 million rupees, or 19 paise per share, from 2.2 million rupees, or 29 paise per share.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.