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Euro Leder Fashion fiscal Q1 profit falls YOY

Euro Leder Fashion Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 19 Indian paise per share, a decrease of 37.5% from 30 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 643,130 rupees, a decrease of 36.4% from 1.0 million rupees in the prior-year period.

The normalized profit margin fell to 0.7% from 1.2% in the year-earlier period.

Total revenue grew 7.5% on an annual basis to 88.6 million rupees from 82.5 million rupees, and total operating expenses climbed 10.9% on an annual basis to 100.0 million rupees from 90.1 million rupees.

Reported net income fell 36.4% on an annual basis to 1.0 million rupees, or 30 paise per share, from 1.6 million rupees, or 48 paise per share.

As of Aug. 8, US$1 was equivalent to 61.15 Indian rupees.