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Shiva Texyarn fiscal Q1 profit falls YOY

Shiva Texyarn Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 4.56 Indian rupees per share, a decrease of 10.3% from 5.08 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 59.1 million rupees, a decline of 10.3% from 65.8 million rupees in the year-earlier period.

The normalized profit margin dropped to 5.2% from 6.3% in the year-earlier period.

Total revenue climbed 8.8% year over year to 1.13 billion rupees from 1.04 billion rupees, and total operating expenses rose 9.4% year over year to 969.0 million rupees from 886.0 million rupees.

Reported net income decreased 32.4% year over year to 49.0 million rupees, or 3.78 rupees per share, from 72.6 million rupees, or 5.60 rupees per share.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.