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Alicon Castalloy profit misses consensus by 16.9% in fiscal Q1

Alicon Castalloy Ltd said its normalized net income for the fiscal first quarter ended June 30 was 3.36 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.05 rupees per share.

EPS rose 49.8% year over year from 2.25 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 37.1 million rupees, an increase of 49.8% from 24.7 million rupees in the prior-year period.

The normalized profit margin rose to 2.4% from 2.0% in the year-earlier period.

Total revenue increased 23.9% year over year to 1.56 billion rupees from 1.26 billion rupees, and total operating expenses rose 23.1% year over year to 1.48 billion rupees from 1.20 billion rupees.

Reported net income rose 26.0% on an annual basis to 42.7 million rupees, or 3.88 rupees per share, from 33.9 million rupees, or 3.08 rupees per share.

As of July 30, US$1 was equivalent to 64.11 Indian rupees.