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Tuni Textile Mills fiscal Q1 profit falls YOY

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According to Market Intelligence, February 2023

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Tuni Textile Mills fiscal Q1 profit falls YOY

Tuni Textile Mills Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 262,500 rupees, a fall of 36.9% from 416,250 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 0.4% from 1.0% in the year-earlier period.

Total revenue grew 63.7% on an annual basis to 68.9 million rupees from 42.1 million rupees, and total operating expenses grew 68.5% from the prior-year period to 66.3 million rupees from 39.3 million rupees.

Reported net income totaled 70,000 rupees, compared with 164,000 rupees in the year-earlier period.

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