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JK Agri Genetics fiscal Q1 profit climbs YOY

JK Agri Genetics Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 64.86 Indian rupees per share, an increase from 63.93 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 233.7 million rupees, a gain from 230.4 million rupees in the prior-year period.

The normalized profit margin declined to 17.9% from 18.2% in the year-earlier period.

Total revenue increased year over year to 1.30 billion rupees from 1.26 billion rupees, and total operating expenses climbed on an annual basis to 909.2 million rupees from 872.4 million rupees.

Reported net income came to 253.4 million rupees, or 70.32 rupees per share, compared to 252.9 million rupees, or 70.17 rupees per share, in the year-earlier period.

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