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TT Ltd. fiscal Q1 profit falls YOY

T.T. Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 35 Indian paise per share, a decrease of 63.3% from 97 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 7.6 million rupees, a decline of 63.5% from 20.8 million rupees in the year-earlier period.

The normalized profit margin declined to 0.5% from 1.4% in the year-earlier period.

Total revenue increased 6.6% on an annual basis to 1.53 billion rupees from 1.43 billion rupees, and total operating expenses climbed 8.0% on an annual basis to 1.42 billion rupees from 1.31 billion rupees.

Reported net income fell 64.6% year over year to 7.7 million rupees, or 36 paise per share, from 21.7 million rupees, or 1.01 rupees per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.