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InRetail Perú Q1 profit falls YOY

InRetail Perú Corp. said its first-quarter normalized net income was 11 Peruvian céntimos per share, a decline of 53.7% from 25 céntimos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 11.8 million soles, a decline of 53.7% from 25.4 million soles in the prior-year period.

The normalized profit margin fell to 0.7% from 1.8% in the year-earlier period.

Total revenue increased 14.6% year over year to 1.61 billion soles from 1.41 billion soles, and total operating expenses increased 12.7% on an annual basis to 1.48 billion soles from 1.32 billion soles.

Reported net income declined 72.3% from the prior-year period to 9.4 million soles, or 9 céntimos per share, from 33.8 million soles, or 33 céntimos per share.

As of May 7, US$1 was equivalent to 3.15 soles.