Munjal Showa Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 3.79 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 5.89 rupees per share.
In the prior-year period, the per-share result was a profit of 3.77 rupees.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 151.3 million rupees, compared with 150.6 million rupees in the prior-year period.
The normalized profit margin rose to 3.9% from 3.6% in the year-earlier period.
Total revenue declined 6.5% on an annual basis to 3.89 billion rupees from 4.16 billion rupees, and total operating expenses declined 6.5% from the prior-year period to 3.67 billion rupees from 3.92 billion rupees.
Reported net income declined 20.3% from the prior-year period to 172.3 million rupees, or 4.31 rupees per share, from 216.2 million rupees, or 5.41 rupees per share.
As of Feb. 6, US$1 was equivalent to 61.94 Indian rupees.
