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Natraj Proteins fiscal Q1 profit falls YOY

Natraj Proteins Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 1.78 Indian rupees per share, a decline of 50.1% from 3.56 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.7 million rupees, a decline of 50.0% from 13.3 million rupees in the prior-year period.

The normalized profit margin declined to 0.9% from 2.0% in the year-earlier period.

Total revenue increased 8.2% year over year to 727.2 million rupees from 671.8 million rupees, and total operating expenses increased 8.6% from the prior-year period to 701.4 million rupees from 645.7 million rupees.

Reported net income declined 55.5% from the prior-year period to 8.2 million rupees, or 2.18 rupees per share, from 18.3 million rupees, or 4.90 rupees per share.

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