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Prima Agro fiscal Q1 profit climbs YOY

Prima Agro Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.47 Indian rupees per share, a gain of 55.7% from 94 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 5.2 million rupees, a gain of 4.9% from 4.9 million rupees in the year-earlier period.

The normalized profit margin fell to 18.2% from 18.7% in the year-earlier period.

Total revenue climbed 7.4% on an annual basis to 28.3 million rupees from 26.4 million rupees, and total operating expenses grew 8.0% from the prior-year period to 20.3 million rupees from 18.8 million rupees.

Reported net income grew 5.1% year over year to 5.6 million rupees, or 1.59 rupees per share, from 5.3 million rupees, or 1.02 rupees per share.

As of Aug. 11, US$1 was equivalent to 64.36 Indian rupees.