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MK Exim fiscal Q2 profit falls YOY

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MK Exim fiscal Q2 profit falls YOY

M.K. Exim (India) Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 2 Indian paise per share, a decrease of 82.4% from 11 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 135,630 rupees, a decrease of 82.5% from 773,130 rupees in the year-earlier period.

The normalized profit margin increased to 1.0% from 0.9% in the year-earlier period.

Total revenue decreased 84.4% year over year to 13.7 million rupees from 87.7 million rupees, and total operating expenses fell 85.0% on an annual basis to 12.9 million rupees from 86.1 million rupees.

Reported net income declined 82.5% on an annual basis to 217,000 rupees, or 3 paise per share, from 1.2 million rupees, or 17 paise per share.

As of Oct. 30, US$1 was equivalent to 65.41 Indian rupees.