Casa Grande SAA said its second-quarter normalized net income amounted to 333,750 soles, a decrease of 96.8% from 10.6 million soles in the prior-year period.

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

The normalized profit margin dropped to 0.6% from 9.7% in the year-earlier period.

Total revenue grew 32.7% on an annual basis to 145.2 million soles from 109.5 million soles, and total operating expenses rose 53.1% from the prior-year period to 137.6 million soles from 89.9 million soles.

Reported net income fell 91.0% year over year to 1.7 million soles, or 2 céntimos per share, from 18.4 million soles, or 22 céntimos per share.

As of July 30, US$1 was equivalent to 3.18 soles.