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Maral Overseas fiscal Q1 profit falls YOY

Maral Overseas Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 58 Indian paise per share, an increase of 8.2% from 54 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 30.6 million rupees, a decline of 14.0% from 35.6 million rupees in the prior-year period.

The normalized profit margin dropped to 2.0% from 2.2% in the year-earlier period.

Total revenue fell year over year to 1.56 billion rupees from 1.64 billion rupees, and total operating expenses fell 5.8% year over year to 1.48 billion rupees from 1.57 billion rupees.

Reported net income fell 31.0% year over year to 31.1 million rupees, or 59 paise per share, from 45.1 million rupees, or 68 paise per share.

As of July 21, US$1 was equivalent to 63.54 Indian rupees.