Tyroon Tea Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 6.56 Indian rupees per share, a decrease of 23.8% from 8.61 rupees per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 22.3 million rupees, a decline of 23.8% from 29.3 million rupees in the year-earlier period.
The normalized profit margin fell to 22.4% from 24.9% in the year-earlier period.
Total revenue fell 15.1% year over year to 99.7 million rupees from 117.4 million rupees, and total operating expenses declined 7.8% on an annual basis to 68.7 million rupees from 74.5 million rupees.
Reported net income fell 23.8% from the prior-year period to 35.7 million rupees, or 10.49 rupees per share, from 46.8 million rupees, or 13.77 rupees per share.
As of Nov. 14, US$1 was equivalent to 61.73 Indian rupees.
