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Himatsingka Seide profit misses consensus by 27.7% in fiscal Q3

Himatsingka Seide Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1.43 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.98 rupees per share.

In the prior-year period, the per-share result was a profit of 1.42 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 141.0 million rupees, compared with 139.6 million rupees in the year-earlier period.

The normalized profit margin rose to 3.1% from 2.8% in the year-earlier period.

Total revenue fell 8.4% on an annual basis to 4.57 billion rupees from 4.99 billion rupees, and total operating expenses fell 9.4% from the prior-year period to 4.18 billion rupees from 4.61 billion rupees.

Reported net income rose 42.4% on an annual basis to 245.1 million rupees, or 2.49 rupees per share, from 172.1 million rupees, or 1.75 rupees per share.

As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.