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Shekhawati Poly-Yarn fiscal Q2 profit falls YOY

Shekhawati Poly-Yarn Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 8 Indian paise per share, a decline of 5.1% from 9 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 18.7 million rupees, a decline from 19.5 million rupees in the prior-year period.

The normalized profit margin climbed to 2.2% from 1.9% in the year-earlier period.

Total revenue fell 14.6% year over year to 856.5 million rupees from 1.00 billion rupees, and total operating expenses fell 14.6% from the prior-year period to 801.7 million rupees from 939.0 million rupees.

Reported net income declined from the prior-year period to 20.2 million rupees, or 9 paise per share, from 21.0 million rupees, or 9 paise per share.

As of Nov. 14, US$1 was equivalent to 61.73 Indian rupees.