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Gayatri BioOrganics fiscal Q1 profit falls YOY

Gayatri BioOrganics Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 225,000 rupees, a decrease of 94.6% from 4.1 million rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 0.0% from 0.3% in the year-earlier period.

Total revenue fell 44.5% on an annual basis to 684.2 million rupees from 1.23 billion rupees, and total operating expenses decreased 45.5% on an annual basis to 660.7 million rupees from 1.21 billion rupees.

Reported net income totaled 6.4 million rupees, or 2 paise per share, compared to 6.6 million rupees, or 2 paise per share, in the year-earlier period.

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