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Bharat Seats profit misses consensus by 36.7% in fiscal Q1

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Bharat Seats profit misses consensus by 36.7% in fiscal Q1

Bharat Seats Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 37 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 59 paise per share.

EPS rose 20.4% year over year from 31 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 11.8 million rupees, a gain of 22.7% from 9.6 million rupees in the prior-year period.

The normalized profit margin rose to 0.8% from 0.7% in the year-earlier period.

Total revenue increased 14.9% year over year to 1.53 billion rupees from 1.33 billion rupees, and total operating expenses grew 14.9% on an annual basis to 1.49 billion rupees from 1.30 billion rupees.

Reported net income grew year over year to 13.3 million rupees, or 42 paise per share, from 12.7 million rupees, or 41 paise per share.

As of July 21, US$1 was equivalent to 60.32 Indian rupees.