trending Market Intelligence /marketintelligence/en/news-insights/trending/2HnpQMZsf9Qw_Axn5nYVuQ2 content esgSubNav
In This List

Premier Synthetics swings to loss in fiscal Q1

Case Study

Financial Data Provider Quickly Realizes Value of Upgraded Charting Solution


Insight Weekly: Sustainable bonds face hurdles; bad loans among landlords; AI investments up


European banking sector outlook 2023


No disruption on the road to digitization

Premier Synthetics swings to loss in fiscal Q1

Premier Synthetics Ltd said its normalized net income for the fiscal first quarter ended June 30 was a loss of 89 Indian paise per share, compared with 49 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 a loss of 3.3 million rupees, compared with income of 1.8 million rupees in the year-earlier period.

The normalized profit margin fell to negative 9.3% from 4.0% in the year-earlier period.

Total revenue decreased 21.9% year over year to 35.0 million rupees from 44.7 million rupees, and total operating expenses came to 40.1 million rupees, compared with 40.0 million rupees in the year-earlier period.

Reported net income came to a loss of 5.2 million rupees, or a loss of 1.43 rupees per share, compared to income of 332,000 rupees, or 9 paise per share, in the year-earlier period.

As of July 15, US$1 was equivalent to 63.50 Indian rupees.