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Chordia Food Products fiscal Q2 profit climbs YOY

Chordia Food Products Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 1.44 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.36 rupees per share.

In the prior-year period, the per-share result was a profit of 1.43 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.3 million rupees, compared with 4.3 million rupees in the prior-year period.

The normalized profit margin dropped to 4.9% from 5.2% in the year-earlier period.

Total revenue grew 8.1% year over year to 88.2 million rupees from 81.7 million rupees, and total operating expenses increased 8.6% on an annual basis to 79.3 million rupees from 73.0 million rupees.

Reported net income decreased 6.3% on an annual basis to 4.5 million rupees, or 1.51 rupees per share, from 4.8 million rupees, or 1.62 rupees per share.

As of Nov. 17, US$1 was equivalent to 61.80 Indian rupees.