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Aptech fiscal Q1 profit falls YOY

Aptech Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 63 Indian paise per share, a decrease of 18.6% from 78 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.2 million rupees, a decline of 33.3% from 37.8 million rupees in the year-earlier period.

The normalized profit margin fell to 6.0% from 8.9% in the year-earlier period.

Total revenue decreased year over year to 419.3 million rupees from 424.8 million rupees, and total operating expenses came to 404.0 million rupees, compared with 400.7 million rupees in the prior-year period.

Reported net income declined 34.1% year over year to 31.1 million rupees, or 78 paise per share, from 47.2 million rupees, or 97 paise per share.

As of Aug. 4, US$1 was equivalent to 61.01 Indian rupees.