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Inversiones La Rioja Q1 loss widens YOY

Inversiones La Rioja SA said its first-quarter normalized net income was a loss of 2.2 million soles, compared with a loss of 200,000 soles in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 8.1% from negative 0.8% in the year-earlier period.

Total revenue increased 7.5% year over year to 27.1 million soles from 25.2 million soles, and total operating expenses climbed year over year to 21.6 million soles from 21.3 million soles.

Reported net income came to a loss of 4.0 million soles, or a loss of 5 céntimos per share, compared to a loss of 685,000 soles, or a loss of 1 céntimos per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 3.13 soles.