Ambika Cotton Mills Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 15.02 Indian rupees per share, a decline of 14.5% from 17.57 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 88.3 million rupees, a decline of 14.5% from 103.2 million rupees in the prior-year period.
The normalized profit margin declined to 7.2% from 8.0% in the year-earlier period.
Total revenue decreased year over year to 1.23 billion rupees from 1.29 billion rupees, and total operating expenses fell from the prior-year period to 1.08 billion rupees from 1.11 billion rupees.
Reported net income fell 16.1% from the prior-year period to 105.5 million rupees, or 17.96 rupees per share, from 125.7 million rupees, or 21.40 rupees per share.
As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.