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Goldiam International fiscal Q1 profit falls YOY

Goldiam International Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.04 Indian rupees per share, a decline of 41.8% from 1.78 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.8 million rupees, a decline of 41.8% from 44.4 million rupees in the year-earlier period.

The normalized profit margin fell to 3.2% from 7.3% in the year-earlier period.

Total revenue increased 30.6% on an annual basis to 797.8 million rupees from 610.8 million rupees, and total operating expenses grew 27.8% year over year to 759.2 million rupees from 593.9 million rupees.

Reported net income fell 45.7% from the prior-year period to 30.2 million rupees, or 1.21 rupees per share, from 55.6 million rupees, or 2.23 rupees per share.

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