Hisar Spinning Mills Ltd said its normalized net income for the fiscal first quarter ended June 30 was 10 Indian paise per share, a decrease of 82.2% from 59 paise per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 395,000 rupees, a decline of 81.9% from 2.2 million rupees in the year-earlier period.
The normalized profit margin declined to 0.7% from 4.9% in the year-earlier period.
Total revenue grew 23.0% on an annual basis to 55.1 million rupees from 44.8 million rupees, and total operating expenses grew 33.8% from the prior-year period to 54.0 million rupees from 40.3 million rupees.
Reported net income decreased 64.5% year over year to 1.1 million rupees, or 28 paise per share, from 3.0 million rupees, or 80 paise per share.
As of Aug. 22, US$1 was equivalent to 60.49 Indian rupees.
