Heritage Foods Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 94 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 1.67 rupees per share.
EPS decreased 60.4% year over year from 2.38 rupees.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 43.7 million rupees, a decline of 60.4% from 110.4 million rupees in the prior-year period.
The normalized profit margin fell to 0.9% from 2.6% in the year-earlier period.
Total revenue rose 21.9% on an annual basis to 5.11 billion rupees from 4.19 billion rupees, and total operating expenses grew 25.5% year over year to 5.01 billion rupees from 3.99 billion rupees.
Reported net income declined 59.6% from the prior-year period to 54.8 million rupees, or 1.18 rupees per share, from 135.5 million rupees, or 2.92 rupees per share.
As of Jan. 30, US$1 was equivalent to 62.01 Indian rupees.
