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Prima Agro fiscal Q2 profit climbs YOY

Prima Agro Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 1.21 Indian rupees per share, an increase from 48 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 6.3 million rupees, an increase from 2.5 million rupees in the year-earlier period.

The normalized profit margin rose to 21.8% from 10.9% in the year-earlier period.

Total revenue increased 26.0% on an annual basis to 28.8 million rupees from 22.9 million rupees, and total operating expenses came to 19.0 million rupees, compared with 19.1 million rupees in the prior-year period.

Reported net income grew from the prior-year period to 6.8 million rupees, or 1.31 rupees per share, from 3.0 million rupees, or 58 paise per share.

As of Oct. 30, US$1 was equivalent to 61.37 Indian rupees.