Agroguachal SA said its first-quarter normalized net income was 117.7 million pesos, a fall of 14.3% from 137.3 million pesos in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to 6.6% from 17.8% in the year-earlier period.
Total revenue grew year over year to 1.77 billion pesos from 772.6 million pesos, and total operating expenses increased 65.0% year over year to 1.59 billion pesos from 966.6 million pesos.
Reported net income came to 123.3 million pesos, compared with 140.0 million pesos, or 2.33 pesos per share, in the year-earlier period.
As of June 1, US$1 was equivalent to 2,538.81 Colombian pesos.