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Neelamalai Agro Industries fiscal Q2 profit falls YOY

Neelamalai Agro Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 25.31 Indian rupees per share, a decrease of 30.3% from 36.30 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 15.9 million rupees, a decline of 30.3% from 22.8 million rupees in the year-earlier period.

The normalized profit margin fell to 17.7% from 34.8% in the year-earlier period.

Total revenue rose 37.1% on an annual basis to 89.7 million rupees from 65.4 million rupees, and total operating expenses grew 41.5% from the prior-year period to 87.3 million rupees from 61.7 million rupees.

Reported net income fell 32.5% year over year to 24.0 million rupees, or 38.26 rupees per share, from 35.5 million rupees, or 56.65 rupees per share.

As of Oct. 20, US$1 was equivalent to 64.96 Indian rupees.