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Munjal Auto Industries profit misses consensus by 59.1% in fiscal Q3

Munjal Auto Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 64 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 1.55 rupees per share.

EPS declined 27.9% year over year from 88 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 63.5 million rupees, a decrease of 28.0% from 88.2 million rupees in the year-earlier period.

The normalized profit margin fell to 3.0% from 4.1% in the year-earlier period.

Total revenue came to 2.15 billion rupees, compared with 2.16 billion rupees in the prior-year period, and total operating expenses climbed year over year to 2.03 billion rupees from 2.01 billion rupees.

Reported net income decreased 43.8% from the prior-year period to 75.8 million rupees, or 76 paise per share, from 134.9 million rupees, or 1.35 rupees per share.

As of Feb. 2, US$1 was equivalent to 61.72 Indian rupees.