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Sunil Agro Foods fiscal Q2 profit falls YOY

Sunil Agro Foods Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30, 2014, amounted to 57 Indian paise per share, a decrease of 27.2% from 78 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.7 million rupees, a decline of 27.4% from 2.3 million rupees in the year-earlier period.

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

Total revenue fell 20.9% on an annual basis to 272.8 million rupees from 344.7 million rupees, and total operating expenses declined 20.7% year over year to 267.7 million rupees from 337.7 million rupees.

Reported net income decreased 25.8% on an annual basis to 1.9 million rupees, or 64 paise per share, from 2.6 million rupees, or 86 paise per share.

As of Jan. 5, US$1 was equivalent to 63.33 Indian rupees.