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Mukta Agriculture fiscal Q1 profit falls YOY

Mukta Agriculture Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 4 Indian paise per share, a decrease of 63.8% from 10 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 861,250 rupees, a decrease of 26.8% from 1.2 million rupees in the year-earlier period.

Reported net income declined 49.4% on an annual basis to 952,000 rupees, or 4 paise per share, from 1.9 million rupees, or 16 paise per share.

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