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Kamadgiri Fashion fiscal Q2 profit falls YOY

Kamadgiri Fashion Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 was 24 Indian paise per share, a decrease of 84.6% from 1.53 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.2 million rupees, a decrease of 84.9% from 7.8 million rupees in the year-earlier period.

The normalized profit margin declined to 0.2% from 1.1% in the year-earlier period.

Total revenue decreased year over year to 705.5 million rupees from 719.1 million rupees, and total operating expenses totaled 684.4 million rupees, compared with 683.7 million rupees in the year-earlier period.

Reported net income declined 86.1% from the prior-year period to 1.2 million rupees, or 25 paise per share, from 8.9 million rupees, or 1.76 rupees per share.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.