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.
