trending Market Intelligence /marketintelligence/en/news-insights/trending/ms5kwtmucJ6mGKMNOIaSMg2 content esgSubNav
In This List

Deepak Spinners fiscal Q1 profit falls YOY

Case Study

Identifying PPE Suppliers During the Pandemic

Case Study

A Government Agency Sharpens Its Focus On Transfer Pricing Strategies

Blog

Municipal CUSIP Request Volumes Climbs for Fourth Straight Month

Blog

European Energy Insights - May 2021


Deepak Spinners fiscal Q1 profit falls YOY

Deepak Spinners Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 2.58 Indian rupees per share, a decrease of 49.5% from 5.11 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 18.6 million rupees, a decline of 49.5% from 36.8 million rupees in the prior-year period.

The normalized profit margin dropped to 1.7% from 4.4% in the year-earlier period.

Total revenue rose 32.2% year over year to 1.11 billion rupees from 840.9 million rupees, and total operating expenses climbed 37.0% from the prior-year period to 1.05 billion rupees from 766.7 million rupees.

Reported net income decreased 58.3% from the prior-year period to 17.2 million rupees, or 2.39 rupees per share, from 41.2 million rupees, or 5.73 rupees per share.

As of Aug. 6, US$1 was equivalent to 61.34 Indian rupees.