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Amarjothi Spinning Mills fiscal Q1 profit falls YOY

Amarjothi Spinning Mills Ltd said its normalized net income for the fiscal first quarter ended June 30 was 5.52 Indian rupees per share, a decline of 23.7% from 7.24 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 37.3 million rupees, a decline of 23.7% from 48.9 million rupees in the prior-year period.

The normalized profit margin dropped to 6.0% from 9.2% in the year-earlier period.

Total revenue grew 17.6% year over year to 626.1 million rupees from 532.4 million rupees, and total operating expenses climbed 24.4% year over year to 527.5 million rupees from 424.1 million rupees.

Reported net income declined 23.7% year over year to 47.7 million rupees, or 7.07 rupees per share, from 62.6 million rupees, or 9.27 rupees per share.

As of July 30, US$1 was equivalent to 60.35 Indian rupees.