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Madhusudan Industries fiscal Q1 profit falls YOY

Madhusudan Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 10 Indian paise per share, a decline of 42.9% 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 551,250 rupees, a decrease of 41.7% from 946,250 rupees in the prior-year period.

The normalized profit margin climbed to 612.5% from 432.1% in the year-earlier period.

Total revenue came to 90,000 rupees.

Reported net income declined 41.7% on an annual basis to 882,000 rupees, or 16 paise per share, from 1.5 million rupees, or 28 paise per share.

As of July 28, US$1 was equivalent to 60.09 Indian rupees.