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Spenta International fiscal Q1 profit falls YOY

Spenta International Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 1.06 Indian rupees per share, a decrease of 32.4% from 1.57 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 3.3 million rupees, a decrease of 32.5% from 4.9 million rupees in the prior-year period.

The normalized profit margin dropped to 4.0% from 5.6% in the year-earlier period.

Total revenue declined year over year to 82.5 million rupees from 86.7 million rupees, and total operating expenses fell on an annual basis to 76.5 million rupees from 78.9 million rupees.

Reported net income decreased 18.6% from the prior-year period to 4.5 million rupees, or 1.45 rupees per share, from 5.5 million rupees, or 1.78 rupees per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.