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Kemp fiscal Q1 profit falls YOY

Kemp and Company Ltd said its normalized net income for the fiscal first quarter ended June 30 was 43 Indian paise per share, a decline of 55.7% from 96 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 461,880 rupees, a decrease of 55.6% from 1.0 million rupees in the year-earlier period.

The normalized profit margin dropped to 2.8% from 6.5% in the year-earlier period.

Total revenue climbed on an annual basis to 16.5 million rupees from 16.1 million rupees, and total operating expenses rose 5.9% on an annual basis to 16.1 million rupees from 15.2 million rupees.

Reported net income decreased 60.3% from the prior-year period to 542,000 rupees, or 50 paise per share, from 1.4 million rupees, or 1.26 rupees per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.