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.