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Concrete Credit fiscal Q1 profit falls YOY

Concrete Credit Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 31,250 rupees, a fall of 25.4% from 41,880 rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 0.7% from 0.2% in the year-earlier period.

Total revenue decreased 76.3% on an annual basis to 4.4 million rupees from 18.5 million rupees, and total operating expenses decreased 76.5% from the prior-year period to 4.3 million rupees from 18.5 million rupees.

Reported net income totaled 35,000 rupees, compared with 47,000 rupees, or 1 paise per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to 64.75 Indian rupees.