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Freshtrop Fruits fiscal Q1 profit climbs 53.5% YOY

Freshtrop Fruits Ltd said its normalized net income for the fiscal first quarter ended June 30 was 5.26 Indian rupees per share, a gain of 47.3% from 3.57 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 63.9 million rupees, a gain of 53.5% from 41.6 million rupees in the prior-year period.

The normalized profit margin rose to 9.8% from 7.7% in the year-earlier period.

Total revenue climbed 20.6% on an annual basis to 654.6 million rupees from 542.7 million rupees, and total operating expenses rose 16.5% on an annual basis to 551.0 million rupees from 473.1 million rupees.

Reported net income rose 51.8% from the prior-year period to 68.3 million rupees, or 5.62 rupees per share, from 45.0 million rupees, or 3.86 rupees per share.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.