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.
