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Seasons Textiles fiscal Q1 profit falls YOY

Seasons Textiles Ltd said its normalized net income for the fiscal first quarter ended June 30 was 15 Indian paise per share, a decline from 16 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 1.1 million rupees, a decline from 1.2 million rupees in the prior-year period.

The normalized profit margin increased to 1.4% from 1.3% in the year-earlier period.

Total revenue fell 9.5% on an annual basis to 78.7 million rupees from 87.0 million rupees, and total operating expenses fell 14.3% from the prior-year period to 67.0 million rupees from 78.2 million rupees.

Reported net income rose 13.3% from the prior-year period to 2.9 million rupees, or 39 paise per share, from 2.6 million rupees, or 34 paise per share.

As of Aug. 12, US$1 was equivalent to 64.75 Indian rupees.