Future Lifestyle Fashions Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 21 Indian paise per share, a decline of 54.0% from 46 paise per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 32.9 million rupees, a decrease of 53.7% from 71.1 million rupees in the prior-year period.
The normalized profit margin fell to 0.5% from 1.2% in the year-earlier period.
Total revenue rose 11.7% year over year to 6.83 billion rupees from 6.11 billion rupees, and total operating expenses increased 14.1% year over year to 6.39 billion rupees from 5.60 billion rupees.
Reported net income decreased 53.7% on an annual basis to 35.6 million rupees, or 23 paise per share, from 76.9 million rupees, or 50 paise per share.
As of Aug. 7, US$1 was equivalent to 61.24 Indian rupees.
