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Ajwa Fun World & Resort fiscal Q1 profit falls YOY

Ajwa Fun World & Resort Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 3 Indian paise per share, a decline of 76.5% from 11 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 158,750 rupees, a decline of 76.8% from 683,750 rupees in the prior-year period.

The normalized profit margin dropped to 1.2% from 5.4% in the year-earlier period.

Total revenue totaled 12.8 million rupees, compared with 12.7 million rupees in the year-earlier period, and total operating expenses climbed 7.6% year over year to 12.6 million rupees from 11.7 million rupees.

Reported net income fell 76.8% from the prior-year period to 254,000 rupees, or 4 paise per share, from 1.1 million rupees, or 17 paise per share.

As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.