KMG Milk Food Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 26 Indian paise per share, a decrease of 14.3% from 31 paise per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.4 million rupees, a decline of 15.2% from 1.6 million rupees in the year-earlier period.
The normalized profit margin dropped to 30.0% from 32.7% in the year-earlier period.
Total revenue fell 7.5% year over year to 4.6 million rupees from 5.0 million rupees, and total operating expenses totaled 2.4 million rupees, compared with 2.4 million rupees in the year-earlier period.
Reported net income fell 15.2% from the prior-year period to 2.2 million rupees, or 42 paise per share, from 2.6 million rupees, or 49 paise per share.
As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.