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Premier Polyfilm fiscal Q1 profit falls YOY

Premier Polyfilm Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 22 Indian paise per share, a decline of 8.6% from 24 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 4.6 million rupees, a decline of 9.9% from 5.1 million rupees in the prior-year period.

The normalized profit margin climbed to 2.5% from 2.3% in the year-earlier period.

Total revenue fell 15.6% on an annual basis to 184.0 million rupees from 217.9 million rupees, and total operating expenses fell 16.0% year over year to 174.1 million rupees from 207.2 million rupees.

Reported net income fell 8.2% from the prior-year period to 5.6 million rupees, or 27 paise per share, from 6.1 million rupees, or 29 paise per share.

As of July 30, US$1 was equivalent to 60.35 Indian rupees.