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Unique Organics fiscal Q2 profit falls YOY

Unique Organics Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 41 Indian paise per share, a decrease of 83.1% from 2.41 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 2.4 million rupees, a decline of 83.1% from 14.4 million rupees in the prior-year period.

The normalized profit margin fell to 0.5% from 4.2% in the year-earlier period.

Total revenue grew 49.1% year over year to 510.5 million rupees from 342.5 million rupees, and total operating expenses rose 54.1% year over year to 507.1 million rupees from 329.1 million rupees.

Reported net income decreased 83.1% on an annual basis to 2.6 million rupees, or 44 paise per share, from 15.5 million rupees, or 2.61 rupees per share.

As of Oct. 20, US$1 was equivalent to 61.26 Indian rupees.