Modi Naturals Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 4 Indian paise per share, a decline of 61.1% from 11 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 481,250 rupees, a decline of 60.4% from 1.2 million rupees in the year-earlier period.
The normalized profit margin dropped to 0.1% from 0.4% in the year-earlier period.
Total revenue increased 17.5% year over year to 399.9 million rupees from 340.4 million rupees, and total operating expenses grew 17.3% from the prior-year period to 393.3 million rupees from 335.2 million rupees.
Reported net income decreased 60.4% year over year to 770,000 rupees, or 7 paise per share, from 1.9 million rupees, or 18 paise per share.
As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.
