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DFM Foods fiscal Q1 profit falls 5.3% YOY

DFM Foods Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 2.57 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 2.68 rupees per share.

EPS fell 5.3% year over year from 2.71 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.7 million rupees, a decline of 5.3% from 27.1 million rupees in the prior-year period.

The normalized profit margin fell to 4.1% from 4.6% in the year-earlier period.

Total revenue rose 5.7% year over year to 621.6 million rupees from 588.0 million rupees, and total operating expenses grew 6.3% on an annual basis to 565.1 million rupees from 531.7 million rupees.

Reported net income decreased 7.5% year over year to 27.1 million rupees, or 2.71 rupees per share, from 29.3 million rupees, or 2.93 rupees per share.

As of July 31, US$1 was equivalent to 60.88 Indian rupees.