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Zodiac Clothing fiscal Q1 profit falls YOY

Zodiac Clothing Company Ltd said its normalized net income for the fiscal first quarter ended June 30 was 1.64 Indian rupees per share, a decline of 14.6% from 1.92 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 31.9 million rupees, a decline of 14.3% from 37.3 million rupees in the year-earlier period.

The normalized profit margin fell to 3.4% from 4.3% in the year-earlier period.

Total revenue grew 9.0% on an annual basis to 943.7 million rupees from 865.6 million rupees, and total operating expenses increased 10.6% from the prior-year period to 913.2 million rupees from 825.4 million rupees.

Reported net income decreased 14.4% on an annual basis to 40.3 million rupees, or 2.07 rupees per share, from 47.1 million rupees, or 2.43 rupees per share.

As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.