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Career Point fiscal Q1 profit falls YOY

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Career Point fiscal Q1 profit falls YOY

Career Point Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 44 Indian paise per share, a decline of 59.8% from 1.08 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.9 million rupees, a decrease of 60.0% from 19.8 million rupees in the prior-year period.

The normalized profit margin dropped to 4.9% from 13.0% in the year-earlier period.

Total revenue increased 5.8% on an annual basis to 160.2 million rupees from 151.5 million rupees, and total operating expenses grew 28.3% on an annual basis to 171.6 million rupees from 133.7 million rupees.

Reported net income increased 50.2% year over year to 24.6 million rupees, or 1.36 rupees per share, from 16.4 million rupees, or 90 paise per share.

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