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Aptech fiscal Q2 profit falls YOY

Aptech Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 92 Indian paise per share, a decline of 34.2% from 1.40 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 36.8 million rupees, a decline of 45.2% from 67.1 million rupees in the prior-year period.

The normalized profit margin declined to 8.4% from 13.5% in the year-earlier period.

Total revenue declined 11.9% on an annual basis to 437.2 million rupees from 496.0 million rupees, and total operating expenses decreased 6.0% from the prior-year period to 394.8 million rupees from 419.8 million rupees.

Reported net income declined 43.4% year over year to 49.1 million rupees, or 1.23 rupees per share, from 86.8 million rupees, or 1.81 rupees per share.

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