trending Market Intelligence /marketintelligence/en/news-insights/trending/mr9lL7F-WuO71ZMGB6MTHw2 content esgSubNav
In This List

Mihika Industries fiscal Q1 profit falls YOY

Video

S&P Capital IQ Pro: Unrivaled Sector Coverage

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud

Blog

Investment Research Analysts Providing Greater Coverage on Inflation


Mihika Industries fiscal Q1 profit falls YOY

Mihika Industries Ltd said its normalized net income for the fiscal first quarter ended June 30 was 3 Indian paise per share, a decline of 80.8% from 18 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 318,130 rupees, a decrease of 82.3% from 1.8 million rupees in the prior-year period.

The normalized profit margin fell to 13.3% from 53.4% in the year-earlier period.

Total revenue fell 28.6% year over year to 2.4 million rupees from 3.4 million rupees, and total operating expenses declined 9.0% from the prior-year period to 3.9 million rupees from 4.3 million rupees.

Reported net income fell 84.6% on an annual basis to 374,000 rupees, or 4 paise per share, from 2.4 million rupees, or 24 paise per share.

As of Aug. 13, US$1 was equivalent to 65.29 Indian rupees.