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Alicon Castalloy fiscal Q1 profit falls YOY

Alicon Castalloy Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 2.25 Indian rupees per share, a decrease of 31.5% from 3.28 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 24.7 million rupees, a decrease of 31.4% from 36.1 million rupees in the prior-year period.

The normalized profit margin declined to 2.0% from 2.8% in the year-earlier period.

Total revenue declined on an annual basis to 1.26 billion rupees from 1.29 billion rupees, and total operating expenses declined on an annual basis to 1.20 billion rupees from 1.22 billion rupees.

Reported net income fell 25.3% from the prior-year period to 33.9 million rupees, or 3.08 rupees per share, from 45.4 million rupees, or 4.13 rupees per share.

As of July 25, US$1 was equivalent to 60.01 Indian rupees.