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Binayak Tex Processors fiscal Q1 profit falls YOY

Binayak Tex Processors Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 8.05 Indian rupees per share, a decrease of 32.8% from 11.98 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.7 million rupees, a decrease of 32.9% from 8.5 million rupees in the prior-year period.

The normalized profit margin dropped to 1.5% from 3.1% in the year-earlier period.

Total revenue increased 34.3% year over year to 371.3 million rupees from 276.4 million rupees, and total operating expenses increased 39.6% from the prior-year period to 359.1 million rupees from 257.3 million rupees.

Reported net income fell 32.4% on an annual basis to 6.2 million rupees, or 8.72 rupees per share, from 9.2 million rupees, or 12.90 rupees per share.

As of Aug. 21, US$1 was equivalent to 60.57 Indian rupees.