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SJ Corp. fiscal Q2 profit falls YOY

SJ Corp. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 11 Indian paise per share, a decline of 27.8% from 15 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 928,130 rupees, a decrease of 24.6% from 1.2 million rupees in the prior-year period.

The normalized profit margin fell to 1.2% from 1.3% in the year-earlier period.

Total revenue declined 12.7% on an annual basis to 79.8 million rupees from 91.4 million rupees, and total operating expenses declined 12.8% year over year to 77.7 million rupees from 89.2 million rupees.

Reported net income fell 33.5% from the prior-year period to 1.2 million rupees, or 14 paise per share, from 1.8 million rupees, or 22 paise per share.

As of Oct. 30, US$1 was equivalent to 65.41 Indian rupees.