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Poona Dal & Oil Industries fiscal Q1 profit falls YOY

Poona Dal & Oil Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 62 Indian paise per share, a decrease of 26.7% from 85 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 3.5 million rupees, a decline of 27.0% from 4.9 million rupees in the prior-year period.

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

Total revenue decreased 22.1% on an annual basis to 517.2 million rupees from 664.3 million rupees, and total operating expenses decreased 22.4% on an annual basis to 511.8 million rupees from 659.5 million rupees.

Reported net income declined 32.9% on an annual basis to 3.9 million rupees, or 68 paise per share, from 5.8 million rupees, or 1.01 rupees per share.

As of July 25, US$1 was equivalent to 60.01 Indian rupees.