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Bodegas Esmeralda fiscal Q1 profit climbs 20.7% YOY

Bodegas Esmeralda SA said its normalized net income for the fiscal first quarter ended June 30 amounted to 52.8 million pesos, a gain of 20.7% from 43.7 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 15.2% from 15.8% in the year-earlier period.

Total revenue rose 25.3% year over year to 347.4 million pesos from 277.2 million pesos, and total operating expenses climbed 23.0% on an annual basis to 263.4 million pesos from 214.1 million pesos.

Reported net income rose 24.3% on an annual basis to 55.7 million pesos, or 1 centavos per share, from 44.8 million pesos, or 1 centavos per share.

As of Aug. 11, US$1 was equivalent to 8.27 Argentine pesos.