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Samtex Fashions fiscal Q1 profit falls YOY

Samtex Fashions Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 60.0 million rupees, a decrease of 10.1% from 66.8 million 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 fell to 1.2% from 1.6% in the year-earlier period.

Total revenue increased 24.4% on an annual basis to 5.04 billion rupees from 4.05 billion rupees, and total operating expenses climbed 24.8% on an annual basis to 4.76 billion rupees from 3.81 billion rupees.

Reported net income totaled 76.6 million rupees, compared with 85.1 million rupees in the prior-year period.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.