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Zodiac JRD fiscal Q2 profit falls YOY

Zodiac JRD MKJ Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 37 Indian paise per share, a decline of 52.7% from 77 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 1.9 million rupees, a decrease of 53.4% from 4.0 million rupees in the year-earlier period.

The normalized profit margin declined to 3.6% from 4.3% in the year-earlier period.

Total revenue declined 44.3% year over year to 51.5 million rupees from 92.5 million rupees, and total operating expenses declined 43.5% year over year to 48.8 million rupees from 86.4 million rupees.

Reported net income decreased 57.8% on an annual basis to 2.0 million rupees, or 39 paise per share, from 4.7 million rupees, or 91 paise per share.

As of Nov. 24, US$1 was equivalent to 61.84 Indian rupees.