Dhampure Speciality Sugars Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.5 million rupees, a decline of 48.4% from 2.9 million rupees in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin fell to 2.1% from 3.0% in the year-earlier period.
Total revenue declined 27.6% year over year to 69.7 million rupees from 96.2 million rupees, and total operating expenses decreased 26.5% year over year to 67.6 million rupees from 92.0 million rupees.
Reported net income totaled 1.7 million rupees, compared with 3.1 million rupees, or 43 paise per share, in the prior-year period.
As of Aug. 13, US$1 was equivalent to 65.29 Indian rupees.