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Shree Bhavya Fabrics fiscal Q2 profit falls YOY

Shree Bhavya Fabrics Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 5 Indian paise per share, a decrease of 16.1% from 6 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 501,880 rupees, a decrease of 11.3% from 565,630 rupees in the year-earlier period.

The normalized profit margin dropped to 0.1% from 0.1% in the year-earlier period.

Total revenue climbed year over year to 621.7 million rupees from 594.0 million rupees, and total operating expenses climbed 5.5% on an annual basis to 601.9 million rupees from 570.7 million rupees.

Reported net income fell 11.3% from the prior-year period to 803,000 rupees, or 8 paise per share, from 905,000 rupees, or 10 paise per share.

As of Nov. 17, US$1 was equivalent to 61.80 Indian rupees.