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ADF Foods fiscal Q1 profit falls 11.6% YOY

ADF Foods Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 91 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 1.01 rupees per share.

EPS fell 13.5% year over year from 1.05 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.0 million rupees, a decrease of 11.6% from 23.8 million rupees in the year-earlier period.

The normalized profit margin dropped to 4.0% from 5.0% in the year-earlier period.

Total revenue climbed 10.4% on an annual basis to 528.6 million rupees from 478.9 million rupees, and total operating expenses grew 8.7% on an annual basis to 514.1 million rupees from 472.9 million rupees.

Reported net income grew 12.6% year over year to 42.2 million rupees, or 1.83 rupees per share, from 37.4 million rupees, or 1.66 rupees per share.

As of Aug. 11, US$1 was equivalent to 61.19 Indian rupees.