Grob Tea Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 7.04 Indian rupees per share, a decrease of 22.6% from 9.10 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 8.2 million rupees, a decrease of 22.5% from 10.6 million rupees in the year-earlier period.
The normalized profit margin fell to 12.1% from 14.5% in the year-earlier period.
Total revenue fell 7.3% year over year to 67.7 million rupees from 73.0 million rupees, and total operating expenses came to 56.6 million rupees, compared with 56.9 million rupees in the prior-year period.
Reported net income decreased 22.5% year over year to 13.1 million rupees, or 11.27 rupees per share, from 16.9 million rupees, or 14.56 rupees per share.
As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.
