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Page Industries profit misses consensus by 21.6% in fiscal Q3

Page Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 41.48 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 52.91 rupees per share.

EPS increased 6.4% year over year from 38.98 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 462.6 million rupees, an increase of 6.4% from 434.8 million rupees in the year-earlier period.

The normalized profit margin fell to 10.7% from 11.5% in the year-earlier period.

Total revenue climbed 14.8% on an annual basis to 4.33 billion rupees from 3.77 billion rupees, and total operating expenses increased 17.0% from the prior-year period to 3.56 billion rupees from 3.04 billion rupees.

Reported net income grew 16.1% from the prior-year period to 519.2 million rupees, or 46.55 rupees per share, from 447.1 million rupees, or 40.08 rupees per share.

As of Feb. 11, US$1 was equivalent to 68.37 Indian rupees.