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Kalpa Commercial fiscal Q2 profit falls YOY

Kalpa Commercial Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 63,750 rupees, a fall of 63.2% from 173,440 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 fell to 0.5% from 1.0% in the year-earlier period.

Total revenue fell 34.8% on an annual basis to 11.7 million rupees from 17.9 million rupees, and total operating expenses fell 34.4% year over year to 11.6 million rupees from 17.6 million rupees.

Reported net income decreased 52.0% on an annual basis to 92,000 rupees, or 1 paise per share, from 191,480 rupees, or 2 paise per share.

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