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Associated Alcohols & Breweries fiscal Q2 profit climbs YOY

Associated Alcohols & Breweries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 2.17 Indian rupees per share, an increase from 18 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 39.3 million rupees, a gain from 3.2 million rupees in the prior-year period.

The normalized profit margin rose to 5.9% from 0.7% in the year-earlier period.

Total revenue increased 50.8% on an annual basis to 670.1 million rupees from 444.5 million rupees, and total operating expenses grew 40.1% from the prior-year period to 590.7 million rupees from 421.6 million rupees.

Reported net income rose from the prior-year period to 24.8 million rupees, or 1.38 rupees per share, from 3.3 million rupees, or 19 paise per share.

As of Nov. 14, US$1 was equivalent to 61.73 Indian rupees.