Renuka Agri Foods PLC said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 14 Sri Lankan cents per share, a decrease of 20.1% from 17 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 76.9 million rupees, a decline of 19.2% from 95.2 million rupees in the year-earlier period.

The normalized profit margin rose to 11.1% from 10.3% in the year-earlier period.

Total revenue fell 25.3% year over year to 691.8 million rupees from 926.5 million rupees, and total operating expenses fell 23.0% from the prior-year period to 588.1 million rupees from 763.6 million rupees.

Reported net income fell 26.1% year over year to 108.1 million rupees, or 19 cents per share, from 146.4 million rupees, or 26 cents per share.

As of Nov. 13, US$1 was equivalent to 142.05 Sri Lankan rupees.