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Risa International fiscal Q1 profit falls YOY

Risa International Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 3 Indian paise per share, a decline of 77.6% from 15 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.3 million rupees, a decrease of 77.6% from 23.7 million rupees in the prior-year period.

The normalized profit margin fell to 1.2% from 13.9% in the year-earlier period.

Total revenue grew on an annual basis to 453.2 million rupees from 170.7 million rupees, and total operating expenses grew year over year to 444.4 million rupees from 130.4 million rupees.

Reported net income declined 78.3% from the prior-year period to 5.7 million rupees, or 4 paise per share, from 26.4 million rupees, or 17 paise per share.

As of Aug. 21, US$1 was equivalent to 60.57 Indian rupees.