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Pasupati Acrylon fiscal Q1 profit falls YOY

Pasupati Acrylon Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 71 Indian paise per share, a decline of 16.3% from 85 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 63.1 million rupees, a decline of 16.3% from 75.4 million rupees in the prior-year period.

The normalized profit margin declined to 4.1% from 5.8% in the year-earlier period.

Total revenue climbed 19.3% on an annual basis to 1.54 billion rupees from 1.29 billion rupees, and total operating expenses climbed 21.3% year over year to 1.42 billion rupees from 1.17 billion rupees.

Reported net income declined 17.9% year over year to 69.5 million rupees, or 78 paise per share, from 84.7 million rupees, or 95 paise per share.

As of Aug. 7, US$1 was equivalent to 63.74 Indian rupees.