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Prima Agro fiscal Q2 profit falls YOY

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.