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Grandeur Products profit holds steady YOY in fiscal Q1

Grandeur Products Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 33,750 rupees, compared with 33,750 rupees in the prior-year period.

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

The normalized profit margin rose to 3.5% from 3.5% in the year-earlier period.

Total revenue came to 955,000 rupees, compared with 960,000 rupees in the prior-year period, and total operating expenses totaled 901,000 rupees, compared with 906,000 rupees in the year-earlier period.

Reported net income declined 29.6% from the prior-year period to 38,000 rupees, or 1 paisa per share, from 54,000 rupees, or 22 paise per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.