Amarjothi Spinning Mills Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 2.55 Indian rupees per share, a decrease of 75.9% from 10.56 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 17.2 million rupees, a decrease of 75.9% from 71.3 million rupees in the prior-year period.
The normalized profit margin declined to 3.2% from 14.0% in the year-earlier period.
Total revenue increased 6.6% on an annual basis to 543.6 million rupees from 509.9 million rupees, and total operating expenses rose 28.4% on an annual basis to 480.2 million rupees from 373.9 million rupees.
Reported net income fell 75.9% on an annual basis to 21.7 million rupees, or 3.22 rupees per share, from 90.1 million rupees, or 13.35 rupees per share.
As of Oct. 29, US$1 was equivalent to 61.20 Indian rupees.