Prima Agro Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 1.49 Indian rupees per share, an increase of 22.6% from 1.21 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 5.7 million rupees, a decrease of 9.7% from 6.3 million rupees in the prior-year period.

The normalized profit margin declined to 19.5% from 21.8% in the year-earlier period.

Total revenue totaled 29.1 million rupees, compared with 28.8 million rupees in the year-earlier period, and total operating expenses rose 6.8% on an annual basis to 20.3 million rupees from 19.0 million rupees.

Reported net income decreased 10.6% from the prior-year period to 6.1 million rupees, or 1.59 rupees per share, from 6.8 million rupees, or 1.31 rupees per share.

As of Oct. 30, US$1 was equivalent to 65.41 Indian rupees.