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Eurotex Industries & Exports fiscal Q1 profit falls YOY

Eurotex Industries and Exports Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 30 Indian paise per share, a decrease of 56.5% from 69 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 2.6 million rupees, a decline of 56.2% from 6.0 million rupees in the year-earlier period.

The normalized profit margin declined to 0.4% from 0.9% in the year-earlier period.

Total revenue declined 12.1% on an annual basis to 609.9 million rupees from 694.1 million rupees, and total operating expenses declined 13.7% year over year to 587.4 million rupees from 680.5 million rupees.

Reported net income declined 15.3% from the prior-year period to 5.2 million rupees, or 59 paise per share, from 6.1 million rupees, or 70 paise per share.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.