Blue Power Group Ltd. said its normalized net income for the fiscal first quarter ended July 31 came to 32 Jamaican cents per share, a decrease from 33 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was J$17.9 million, a decline from J$18.7 million in the year-earlier period.
The normalized profit margin fell to 6.5% from 7.6% in the year-earlier period.
Total revenue increased 13.1% on an annual basis to J$277.9 million from J$245.7 million, and total operating expenses grew 15.1% year over year to J$252.2 million from J$219.2 million.
Reported net income declined on an annual basis to J$28.7 million, or 51 cents per share, from J$30.0 million, or 53 cents per share.
As of Aug. 28, US$1 was equivalent to J$112.55.
