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Amrit fiscal Q1 profit falls YOY

Amrit Corp. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 6.21 Indian rupees per share, a decrease of 21.7% from 7.94 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 20.0 million rupees, a decrease of 21.8% from 25.5 million rupees in the prior-year period.

The normalized profit margin fell to 12.1% from 16.1% in the year-earlier period.

Total revenue rose year over year to 164.9 million rupees from 158.0 million rupees, and total operating expenses decreased 5.2% from the prior-year period to 147.5 million rupees from 155.6 million rupees.

Reported net income fell 29.6% year over year to 25.1 million rupees, or 7.81 rupees per share, from 35.6 million rupees, or 11.09 rupees per share.

As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.