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Lux Industries fiscal Q1 profit falls YOY

Lux Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 2.25 Indian rupees per share, a decline of 10.1% from 2.51 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 56.9 million rupees, a decline of 10.1% from 63.3 million rupees in the year-earlier period.

The normalized profit margin rose to 3.7% from 3.7% in the year-earlier period.

Total revenue declined 11.7% on an annual basis to 1.53 billion rupees from 1.73 billion rupees, and total operating expenses decreased 11.9% year over year to 1.40 billion rupees from 1.59 billion rupees.

Reported net income declined 9.5% from the prior-year period to 61.3 million rupees, or 2.43 rupees per share, from 67.8 million rupees, or 2.68 rupees per share.

As of Aug. 8, US$1 was equivalent to 61.15 Indian rupees.