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Terai Tea fiscal Q1 profit climbs 10.7% YOY

Terai Tea Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 10.8 million rupees, a rise of 10.7% from 9.7 million rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 8.1% from 11.3% in the year-earlier period.

Total revenue rose 55.4% year over year to 133.4 million rupees from 85.9 million rupees, and total operating expenses climbed 75.7% year over year to 105.9 million rupees from 60.3 million rupees.

Reported net income totaled 17.2 million rupees, compared with 15.6 million rupees in the prior-year period.

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