Bannari Amman Sugars Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 92 Indian paise per share, a decline of 86.3% from 6.67 rupees per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.5 million rupees, a decline of 86.3% from 76.3 million rupees in the prior-year period.
The normalized profit margin declined to 0.5% from 5.9% in the year-earlier period.
Total revenue increased 73.3% year over year to 2.24 billion rupees from 1.29 billion rupees, and total operating expenses increased 92.5% on an annual basis to 2.03 billion rupees from 1.05 billion rupees.
Reported net income fell 76.3% from the prior-year period to 22.2 million rupees, or 1.94 rupees per share, from 93.7 million rupees, or 8.19 rupees per share.
As of July 30, US$1 was equivalent to 60.35 Indian rupees.