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Unique Organics fiscal Q1 profit falls YOY

Unique Organics Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 43 Indian paise per share, a decline of 78.2% from 2.00 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 2.6 million rupees, a decline of 78.4% from 11.9 million rupees in the year-earlier period.

The normalized profit margin fell to 0.4% from 2.5% in the year-earlier period.

Total revenue climbed 36.0% year over year to 643.7 million rupees from 473.4 million rupees, and total operating expenses climbed 36.6% on an annual basis to 636.0 million rupees from 465.7 million rupees.

Reported net income fell 78.4% from the prior-year period to 2.8 million rupees, or 47 paise per share, from 12.8 million rupees, or 2.16 rupees per share.

As of Aug. 1, US$1 was equivalent to 60.84 Indian rupees.