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Tara Jewels fiscal Q1 profit falls YOY

Tara Jewels Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 2.67 Indian rupees per share, a decrease of 33.7% from 4.03 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 65.8 million rupees, a decrease of 33.7% from 99.2 million rupees in the prior-year period.

The normalized profit margin fell to 2.1% from 3.0% in the year-earlier period.

Total revenue decreased on an annual basis to 3.20 billion rupees from 3.29 billion rupees, and total operating expenses decreased year over year to 2.96 billion rupees from 3.02 billion rupees.

Reported net income fell 39.7% from the prior-year period to 70.2 million rupees, or 2.85 rupees per share, from 116.5 million rupees, or 4.73 rupees per share.

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