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Sarla Performance Fibers fiscal Q1 profit falls YOY

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Sarla Performance Fibers fiscal Q1 profit falls YOY

Sarla Performance Fibers Ltd said its normalized net income for the fiscal first quarter ended June 30 was 80 Indian paise per share, a decrease of 17.4% from 97 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 55.9 million rupees, a decline of 17.4% from 67.7 million rupees in the prior-year period.

The normalized profit margin declined to 6.8% from 11.2% in the year-earlier period.

Total revenue increased 35.7% on an annual basis to 821.3 million rupees from 605.3 million rupees, and total operating expenses climbed 50.3% year over year to 737.9 million rupees from 491.0 million rupees.

Reported net income fell 22.6% from the prior-year period to 63.3 million rupees, or 91 paise per share, from 81.8 million rupees, or 1.18 rupees per share.

As of Oct. 21, US$1 was equivalent to 61.15 Indian rupees.