AgriNurture Inc. said its third-quarter normalized net income was 1.8 million pesos, a decline of 64.7% from 5.0 million pesos in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 1.6% from 0.7% in the year-earlier period.

Total revenue fell 85.1% year over year to 110.4 million pesos from 740.3 million pesos, and total operating expenses decreased 86.1% year over year to 100.0 million pesos from 717.6 million pesos.

Reported net income decreased 88.8% from the prior-year period to 631,150 pesos, or 0 centavos per share, from 5.6 million pesos, or 1 centavos per share.

As of Nov. 14, US$1 was equivalent to 49.20 Philippine pesos.