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Orient Beverages fiscal Q1 profit falls YOY

Orient Beverages Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 2.00 Indian rupees per share, a decrease of 5.9% from 2.13 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 4.3 million rupees, a decline of 6.8% from 4.6 million rupees in the prior-year period.

The normalized profit margin dropped to 4.8% from 6.6% in the year-earlier period.

Total revenue climbed 28.9% on an annual basis to 90.0 million rupees from 69.8 million rupees, and total operating expenses increased 31.6% from the prior-year period to 83.3 million rupees from 63.3 million rupees.

Reported net income decreased 6.8% on an annual basis to 6.9 million rupees, or 3.20 rupees per share, from 7.4 million rupees, or 3.40 rupees per share.

As of Aug. 13, US$1 was equivalent to 65.29 Indian rupees.