Divya Jyoti Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 665,630 rupees, a decline of 65.0% from 1.9 million 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 dropped to 0.3% from 0.4% in the year-earlier period.
Total revenue fell 54.6% year over year to 244.6 million rupees from 538.8 million rupees, and total operating expenses decreased 55.8% year over year to 232.5 million rupees from 525.8 million rupees.
Reported net income totaled 1.1 million rupees, compared with 3.0 million rupees in the prior-year period.
As of Aug. 11, US$1 was equivalent to 61.19 Indian rupees.
