Kaveri Seed Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 3.29 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.90 rupees per share.
EPS declined year over year from 3.37 rupees.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 226.6 million rupees, a decline from 231.5 million rupees in the year-earlier period.
The normalized profit margin increased to 25.0% from 17.5% in the year-earlier period.
Total revenue declined 31.6% year over year to 906.9 million rupees from 1.33 billion rupees, and total operating expenses declined 42.4% year over year to 568.2 million rupees from 986.3 million rupees.
Reported net income declined on an annual basis to 357.9 million rupees, or 5.19 rupees per share, from 365.2 million rupees, or 5.31 rupees per share.
As of Feb. 3, US$1 was equivalent to 61.67 Indian rupees.
