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Future Lifestyle Fashions fiscal Q1 profit falls YOY

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.