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Eurotex Industries & Exports fiscal Q1 profit falls YOY

Eurotex Industries and Exports Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 69 Indian paise per share, a decrease of 52.3% from 1.44 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 6.0 million rupees, a decline of 52.1% from 12.6 million rupees in the year-earlier period.

The normalized profit margin fell to 0.9% from 2.0% in the year-earlier period.

Total revenue increased 9.5% year over year to 694.1 million rupees from 634.1 million rupees, and total operating expenses increased 15.9% from the prior-year period to 680.5 million rupees from 587.0 million rupees.

Reported net income fell 59.0% year over year to 6.1 million rupees, or 70 paise per share, from 15.0 million rupees, or 1.71 rupees per share.

As of Aug. 11, US$1 was equivalent to 61.19 Indian rupees.