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Sportking India fiscal Q1 profit falls YOY

Sportking India Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 19 Indian paise per share, a decrease of 99.2% from 25.27 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 683,750 rupees, a decline of 99.2% from 90.0 million rupees in the year-earlier period.

The normalized profit margin declined to 0.0% from 3.7% in the year-earlier period.

Total revenue rose 11.1% on an annual basis to 2.72 billion rupees from 2.45 billion rupees, and total operating expenses rose 19.7% year over year to 2.54 billion rupees from 2.12 billion rupees.

Reported net income decreased 99.2% on an annual basis to 1.1 million rupees, or 31 paise per share, from 144.0 million rupees, or 40.44 rupees per share.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.