Bannari Amman Spinning Mills Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 3.45 Indian rupees per share, a decrease of 43.2% from 6.07 rupees per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 54.4 million rupees, a decrease of 43.1% from 95.6 million rupees in the year-earlier period.
The normalized profit margin dropped to 3.2% from 6.6% in the year-earlier period.
Total revenue increased 16.7% year over year to 1.68 billion rupees from 1.44 billion rupees, and total operating expenses increased 24.9% from the prior-year period to 1.49 billion rupees from 1.20 billion rupees.
Reported net income decreased 42.1% on an annual basis to 60.0 million rupees, or 3.81 rupees per share, from 103.8 million rupees, or 6.59 rupees per share.
As of Aug. 22, US$1 was equivalent to 60.49 Indian rupees.
