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Deco-Mica fiscal Q1 profit falls YOY

Deco-Mica Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 56 Indian paise per share, a decrease of 29.1% from 79 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.4 million rupees, a decrease of 28.2% from 3.3 million rupees in the prior-year period.

The normalized profit margin declined to 2.5% from 3.2% in the year-earlier period.

Total revenue decreased 10.4% on an annual basis to 93.0 million rupees from 103.8 million rupees, and total operating expenses decreased 8.7% from the prior-year period to 88.3 million rupees from 96.7 million rupees.

Reported net income fell 40.7% from the prior-year period to 2.0 million rupees, or 48 paise per share, from 3.4 million rupees, or 82 paise per share.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.