Norben Tea & Exports Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 26 Indian paise per share, a gain of 27.3% from 21 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 3.1 million rupees, an increase of 29.4% from 2.4 million rupees in the year-earlier period.
The normalized profit margin increased to 43.5% from 33.2% in the year-earlier period.
Total revenue decreased on an annual basis to 7.1 million rupees from 7.2 million rupees, and total operating expenses declined 22.1% from the prior-year period to 2.5 million rupees from 3.2 million rupees.
Reported net income rose 29.4% from the prior-year period to 4.9 million rupees, or 42 paise per share, from 3.8 million rupees, or 33 paise per share.
As of Aug. 11, US$1 was equivalent to 61.19 Indian rupees.
