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Inversiones La Rioja Q2 profit falls YOY

Inversiones La Rioja SA said its second-quarter normalized net income came to 2 Peruvian céntimos per share, a decrease of 65.3% from 6 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 1.7 million soles, a decrease of 65.3% from 4.9 million soles in the prior-year period.

The normalized profit margin fell to 4.9% from 16.5% in the year-earlier period.

Total revenue increased 17.5% on an annual basis to 34.7 million soles from 29.5 million soles, and total operating expenses climbed 14.7% from the prior-year period to 24.5 million soles from 21.4 million soles.

Reported net income declined 51.3% year over year to 2.6 million soles, or 3 céntimos per share, from 5.4 million soles, or 7 céntimos per share.

As of July 23, US$1 was equivalent to 3.19 soles.