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Prima Agro fiscal Q3 profit climbs 45.9% YOY

Prima Agro Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 73 Indian paise per share, a gain of 47.2% from 50 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.8 million rupees, an increase of 45.9% from 2.6 million rupees in the year-earlier period.

The normalized profit margin increased to 13.8% from 10.1% in the year-earlier period.

Total revenue increased 7.0% on an annual basis to 27.4 million rupees from 25.6 million rupees, and total operating expenses came to 21.6 million rupees, compared with 21.7 million rupees in the year-earlier period.

Reported net income rose 44.9% year over year to 4.1 million rupees, or 79 paise per share, from 2.8 million rupees, or 54 paise per share.

As of Jan. 30, US$1 was equivalent to 62.01 Indian rupees.