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Kewal Kiran Clothing fiscal Q1 profit falls YOY

Kewal Kiran Clothing Ltd. its normalized net income for the fiscal first quarter ended June 30 was 7.74 Indian rupees per share, a decline of 14.9% from 9.09 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 95.4 million rupees, a decline of 14.8% from 112.1 million rupees in the year-earlier period.

The normalized profit margin declined to 11.3% from 15.2% in the year-earlier period.

Total revenue grew 14.5% on an annual basis to 844.3 million rupees from 737.1 million rupees, and total operating expenses increased 20.5% year over year to 692.9 million rupees from 574.9 million rupees.

Reported net income decreased 16.7% on an annual basis to 101.4 million rupees, or 8.22 rupees per share, from 121.8 million rupees, or 9.88 rupees per share.

As of July 23, US$1 was equivalent to 59.95 Indian rupees.