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Kalpa Commercial fiscal Q1 profit falls YOY

Kalpa Commercial Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 100,000 rupees, a fall of 39.8% from 166,230 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 dropped to 0.8% from 0.9% in the year-earlier period.

Total revenue declined 31.0% on an annual basis to 12.2 million rupees from 17.7 million rupees, and total operating expenses declined 32.2% from the prior-year period to 11.8 million rupees from 17.4 million rupees.

Reported net income came to 110,000 rupees, compared with 183,520 rupees, or 2 paise per share, in the prior-year period.

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