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Tasty Bite Eatables profit beats consensusin fiscal Q1

Tasty Bite Eatables Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 9.34 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 3.09 rupees per share.

The per-share result swung to a profit from the prior-year loss of 2.29 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 24.0 million rupees, compared with a loss of 5.9 million rupees in the year-earlier period.

The normalized profit margin increased to 5.5% from negative 2.4% in the year-earlier period.

Total revenue grew 77.5% on an annual basis to 435.4 million rupees from 245.3 million rupees, and total operating expenses grew 54.3% from the prior-year period to 393.0 million rupees from 254.7 million rupees.

Reported net income totaled 25.7 million rupees, or 10.00 rupees per share, compared to a loss of 7.3 million rupees, or a loss of 2.85 rupees per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.