Sita Shree Food Products Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 27 Indian paise per share, an increase of 5.5% from 26 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 7.5 million rupees, an increase from 7.2 million rupees in the prior-year period.

The normalized profit margin rose to 0.7% from 0.6% in the year-earlier period.

Total revenue decreased 15.0% year over year to 1.05 billion rupees from 1.24 billion rupees, and total operating expenses decreased 16.1% on an annual basis to 994.3 million rupees from 1.18 billion rupees.

Reported net income rose 5.2% on an annual basis to 9.7 million rupees, or 35 paise per share, from 9.2 million rupees, or 33 paise per share.

As of Aug. 13, US$1 was equivalent to 65.29 Indian rupees.