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Chordia Food Products fiscal Q2 profit falls YOY

Chordia Food Products Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 39 Indian paise per share, a decrease of 72.9% from 1.44 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.2 million rupees, a decrease of 73.1% from 4.3 million rupees in the year-earlier period.

The normalized profit margin dropped to 1.3% from 4.9% in the year-earlier period.

Total revenue totaled 88.7 million rupees, compared with 88.2 million rupees in the prior-year period, and total operating expenses grew 7.0% year over year to 84.8 million rupees from 79.3 million rupees.

Reported net income decreased 72.4% from the prior-year period to 1.2 million rupees, or 42 paise per share, from 4.5 million rupees, or 1.51 rupees per share.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.