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Venky's (India) Ltd. fiscal Q1 profit falls YOY

Venky's (India) Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 1.17 Indian rupees per share, a decrease of 74.4% from 4.55 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 16.4 million rupees, a decline of 74.4% from 64.2 million rupees in the prior-year period.

The normalized profit margin dropped to 0.4% from 1.5% in the year-earlier period.

Total revenue grew year over year to 4.41 billion rupees from 4.29 billion rupees, and total operating expenses grew from the prior-year period to 4.29 billion rupees from 4.17 billion rupees.

Reported net income decreased 76.9% year over year to 15.8 million rupees, or 1.12 rupees per share, from 68.5 million rupees, or 4.86 rupees per share.

As of Aug. 11, US$1 was equivalent to 61.19 Indian rupees.