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Maral Overseas fiscal Q2 profit falls YOY

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Maral Overseas fiscal Q2 profit falls YOY

Maral Overseas Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 29 Indian paise per share, an increase of 91.4% from 15 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 14.8 million rupees, a decline of 27.4% from 20.3 million rupees in the year-earlier period.

The normalized profit margin fell to 0.9% from 1.3% in the year-earlier period.

Total revenue came to 1.59 billion rupees, compared with 1.60 billion rupees in the prior-year period, and total operating expenses totaled 1.55 billion rupees, compared with 1.57 billion rupees in the year-earlier period.

Reported net income grew 21.8% on an annual basis to 31.3 million rupees, or 61 paise per share, from 25.7 million rupees, or 19 paise per share.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.