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Anjani Synthetics fiscal Q1 profit falls YOY

Anjani Synthetics Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 53 Indian paise per share, a decline of 66.6% from 1.59 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 5.7 million rupees, a decline of 66.5% from 17.1 million rupees in the prior-year period.

The normalized profit margin dropped to 0.6% from 2.5% in the year-earlier period.

Total revenue rose 32.8% on an annual basis to 920.0 million rupees from 693.0 million rupees, and total operating expenses climbed 33.8% year over year to 885.5 million rupees from 661.7 million rupees.

Reported net income declined 74.6% year over year to 6.2 million rupees, or 57 paise per share, from 24.3 million rupees, or 2.25 rupees per share.

As of Aug. 10, US$1 was equivalent to 63.80 Indian rupees.