Spectrum Foods Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 11 Indian paise per share, compared with a loss of 17 paise per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 256,880 rupees, compared with a loss of 384,380 rupees in the prior-year period.
The normalized profit margin rose to 6.1% from negative 10.9% in the year-earlier period.
Total revenue grew 20.0% on an annual basis to 4.2 million rupees from 3.5 million rupees, and total operating expenses fell from the prior-year period to 3.7 million rupees from 3.8 million rupees.
Reported net income came to 411,000 rupees, or 17 paise per share, compared to a loss of 615,000 rupees, or a loss of 27 paise per share, in the prior-year period.
As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.
