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HS India fiscal Q1 profit falls YOY

H S India Ltd said its normalized net income for the fiscal first quarter ended June 30 was 13 Indian paise per share, a decrease of 11.8% from 15 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 2.1 million rupees, a decrease of 10.0% from 2.3 million rupees in the year-earlier period.

The normalized profit margin declined to 3.9% from 4.7% in the year-earlier period.

Total revenue rose 8.5% year over year to 53.0 million rupees from 48.8 million rupees, and total operating expenses increased 5.6% year over year to 42.5 million rupees from 40.3 million rupees.

Reported net income decreased 9.9% from the prior-year period to 2.4 million rupees, or 15 paise per share, from 2.7 million rupees, or 17 paise per share.

As of July 15, US$1 was equivalent to 63.50 Indian rupees.