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Saboo Sodium Chloro fiscal Q1 profit falls YOY

Saboo Sodium Chloro Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 3 Indian paise per share, a decline of 73.3% from 9 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 460,630 rupees, a decrease of 66.6% from 1.4 million rupees in the year-earlier period.

The normalized profit margin declined to 1.2% from 3.7% in the year-earlier period.

Total revenue came to 37.4 million rupees, compared with 37.4 million rupees in the year-earlier period, and total operating expenses climbed on an annual basis to 34.3 million rupees from 33.6 million rupees.

Reported net income decreased 66.6% on an annual basis to 737,000 rupees, or 4 paise per share, from 2.2 million rupees, or 15 paise per share.

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