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Radix Industries fiscal Q2 profit falls YOY

Radix Industries (India) Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 13 Indian paise per share, a decrease of 83.1% from 78 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 1.4 million rupees, a decrease of 82.5% from 7.8 million rupees in the year-earlier period.

The normalized profit margin declined to 5.2% from 11.3% in the year-earlier period.

Total revenue decreased 61.8% year over year to 26.6 million rupees from 69.6 million rupees, and total operating expenses decreased 60.4% on an annual basis to 22.4 million rupees from 56.7 million rupees.

Reported net income decreased 82.5% on an annual basis to 1.5 million rupees, or 14 paise per share, from 8.3 million rupees, or 83 paise per share.

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