Lakshmi Energy and Foods Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 26 Indian paise per share, a decline of 66.6% from 77 paise per share in the first quarter ended Dec. 31, 2013.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.3 million rupees, a decrease of 67.4% from 53.0 million rupees in the first quarter ended Dec. 31, 2013.
The normalized profit margin fell to 0.7% from 2.7% in the year-earlier period.
Total revenue increased 32.2% on an annual basis to 2.55 billion rupees from 1.93 billion rupees, and total operating expenses increased 33.8% from the prior-year period to 2.23 billion rupees from 1.67 billion rupees.
Reported net income fell 51.5% from the prior-year period to 53.3 million rupees, or 79 paise per share, from 109.8 million rupees, or 1.59 rupees per share.
As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.
