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Century Enka fiscal Q1 profit falls YOY

Century Enka Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 3.45 Indian rupees per share, a decline of 47.7% from 6.60 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 75.5 million rupees, a decrease of 47.7% from 144.3 million rupees in the prior-year period.

The normalized profit margin dropped to 2.5% from 3.6% in the year-earlier period.

Total revenue declined 25.1% year over year to 3.03 billion rupees from 4.05 billion rupees, and total operating expenses decreased 23.9% year over year to 2.88 billion rupees from 3.79 billion rupees.

Reported net income decreased 43.1% from the prior-year period to 86.6 million rupees, or 3.96 rupees per share, from 152.1 million rupees, or 6.96 rupees per share.

As of July 24, US$1 was equivalent to 60.11 Indian rupees.