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Suditi Industries fiscal Q2 profit falls YOY

Suditi Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 14 Indian paise per share, a decline of 14.3% from 16 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.4 million rupees, a decrease of 10.3% from 2.6 million rupees in the year-earlier period.

The normalized profit margin declined to 1.3% from 1.6% in the year-earlier period.

Total revenue grew 6.6% on an annual basis to 179.8 million rupees from 168.6 million rupees, and total operating expenses rose 6.8% from the prior-year period to 170.8 million rupees from 159.9 million rupees.

Reported net income fell 15.2% year over year to 2.9 million rupees, or 17 paise per share, from 3.4 million rupees, or 21 paise per share.

As of Nov. 14, US$1 was equivalent to 61.73 Indian rupees.