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Umang Dairies fiscal Q1 profit falls YOY

Umang Dairies Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 55 Indian paise per share, a decline of 20.1% from 68 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 12.0 million rupees, a decrease of 20.5% from 15.1 million rupees in the prior-year period.

The normalized profit margin dropped to 2.4% from 5.3% in the year-earlier period.

Total revenue rose 73.3% on an annual basis to 491.0 million rupees from 283.3 million rupees, and total operating expenses rose 80.6% on an annual basis to 469.2 million rupees from 259.8 million rupees.

Reported net income decreased 20.7% on an annual basis to 12.9 million rupees, or 59 paise per share, from 16.3 million rupees, or 74 paise per share.

As of Aug. 7, US$1 was equivalent to 61.24 Indian rupees.