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KMG Milk Food fiscal Q1 profit falls YOY

KMG Milk Food Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 26 Indian paise per share, a decrease of 14.3% from 31 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 1.4 million rupees, a decline of 15.2% from 1.6 million rupees in the year-earlier period.

The normalized profit margin dropped to 30.0% from 32.7% in the year-earlier period.

Total revenue fell 7.5% year over year to 4.6 million rupees from 5.0 million rupees, and total operating expenses totaled 2.4 million rupees, compared with 2.4 million rupees in the year-earlier period.

Reported net income fell 15.2% from the prior-year period to 2.2 million rupees, or 42 paise per share, from 2.6 million rupees, or 49 paise per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.