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Prima Agro fiscal Q3 profit climbs 11.1% YOY

Prima Agro Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 80 Indian paise per share, a gain of 10.1% from 73 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 4.2 million rupees, a gain of 11.1% from 3.8 million rupees in the year-earlier period.

The normalized profit margin rose to 14.8% from 13.8% in the year-earlier period.

Total revenue climbed year over year to 28.3 million rupees from 27.4 million rupees, and total operating expenses increased year over year to 21.8 million rupees from 21.6 million rupees.

Reported net income grew 11.1% on an annual basis to 4.5 million rupees, or 87 paise per share, from 4.1 million rupees, or 79 paise per share.

As of Jan. 29, US$1 was equivalent to 67.85 Indian rupees.