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Negotium International fiscal Q1 profit falls YOY

Negotium International Trade Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 29,890 rupees, a decline of 31.0% from 43,310 rupees in the year-earlier period.

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

The normalized profit margin declined to 0.9% from 1.8% in the year-earlier period.

Total revenue rose 37.5% year over year to 3.3 million rupees from 2.4 million rupees, and total operating expenses climbed 39.6% on an annual basis to 3.2 million rupees from 2.3 million rupees.

Reported net income decreased 31.0% year over year to 47,820 rupees, or 0 paise per share, from 69,300 rupees, or 0 paise per share.

As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.