Longview Tea Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 14 Indian paise per share, a decline of 46.3% from 26 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 409,380 rupees, a decrease of 47.3% from 776,250 rupees in the year-earlier period.
Reported net income fell 47.3% on an annual basis to 530,000 rupees, or 18 paise per share, from 1.0 million rupees, or 34 paise per share.
As of Aug. 19, US$1 was equivalent to 60.69 Indian rupees.
