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InRetail Perú Q2 profit falls YOY

InRetail Perú Corp. said its normalized net income for the second quarter came to 25 Peruvian céntimos per share, a decrease of 40.1% from 41 céntimos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.5 million soles, a decrease of 40.1% from 42.6 million soles in the prior-year period.

The normalized profit margin declined to 1.6% from 2.9% in the year-earlier period.

Total revenue climbed 12.8% on an annual basis to 1.65 billion soles from 1.46 billion soles, and total operating expenses grew 11.2% on an annual basis to 1.51 billion soles from 1.36 billion soles.

Reported net income declined 70.8% from the prior-year period to 16.4 million soles, or 16 céntimos per share, from 56.1 million soles, or 55 céntimos per share.

As of Aug. 10, US$1 was equivalent to 3.20 soles.