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CCL Products (India) profit beats consensus by 24.7% in fiscal Q1

CCL Products (India) Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 1.87 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.50 rupees per share.

EPS climbed 53.7% year over year from 1.22 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 249.0 million rupees, an increase of 53.9% from 161.8 million rupees in the year-earlier period.

The normalized profit margin climbed to 11.7% from 9.2% in the year-earlier period.

Total revenue grew 20.9% year over year to 2.12 billion rupees from 1.76 billion rupees, and total operating expenses increased 16.5% year over year to 1.70 billion rupees from 1.46 billion rupees.

Reported net income increased 49.5% from the prior-year period to 302.2 million rupees, or 2.27 rupees per share, from 202.1 million rupees, or 1.52 rupees per share.

As of July 20, US$1 was equivalent to 63.64 Indian rupees.