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IntraSoft Technologies profit misses consensus by 37.8% in fiscal Q2

IntraSoft Technologies Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 57 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 92 paise per share.

EPS increased 12.9% year over year from 51 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.4 million rupees, an increase of 11.6% from 7.5 million rupees in the prior-year period.

The normalized profit margin dropped to 0.5% from 1.3% in the year-earlier period.

Total revenue climbed on an annual basis to 1.54 billion rupees from 596.3 million rupees, and total operating expenses climbed from the prior-year period to 1.53 billion rupees from 593.5 million rupees.

Reported net income rose 80.1% from the prior-year period to 16.6 million rupees, or 1.13 rupees per share, from 9.2 million rupees, or 62 paise per share.

As of Nov. 4, US$1 was equivalent to 65.45 Indian rupees.