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Binayak Tex Processors fiscal Q2 profit falls YOY

Binayak Tex Processors Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 7.17 Indian rupees per share, a decrease of 28.7% from 10.06 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.1 million rupees, a decline of 28.7% from 7.2 million rupees in the year-earlier period.

The normalized profit margin fell to 1.1% from 1.1% in the year-earlier period.

Total revenue decreased 28.1% on an annual basis to 467.0 million rupees from 649.5 million rupees, and total operating expenses decreased 28.4% from the prior-year period to 448.9 million rupees from 627.3 million rupees.

Reported net income fell 42.3% on an annual basis to 4.7 million rupees, or 6.61 rupees per share, from 8.2 million rupees, or 11.46 rupees per share.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.