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Divinus Fabrics fiscal Q1 profit falls YOY

Divinus Fabrics Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 40,000 rupees, a decrease of 28.9% from 56,250 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 0.5% from 0.7% in the year-earlier period.

Total revenue fell 12.6% year over year to 7.6 million rupees from 8.6 million rupees, and total operating expenses fell 15.0% from the prior-year period to 7.3 million rupees from 8.6 million rupees.

Reported net income declined 26.7% on an annual basis to 44,000 rupees, or 1 paise per share, from 60,000 rupees, or 1 paise per share.

As of Aug. 13, US$1 was equivalent to 65.29 Indian rupees.