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Sita Shree Food Products fiscal Q1 profit climbs YOY

Sita Shree Food Products Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 26 Indian paise per share, an increase from 4 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 7.2 million rupees, an increase from 970,630 rupees in the year-earlier period.

The normalized profit margin climbed to 0.6% from 0.1% in the year-earlier period.

Total revenue climbed 78.5% year over year to 1.24 billion rupees from 694.1 million rupees, and total operating expenses grew 79.6% year over year to 1.18 billion rupees from 659.6 million rupees.

Reported net income rose on an annual basis to 9.2 million rupees, or 33 paise per share, from 1.2 million rupees, or 5 paise per share.

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