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Alicon Castalloy profit misses consensus by 22.7% in fiscal Q2

Alicon Castalloy Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 was 3.61 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.67 rupees per share.

EPS increased 14.7% year over year from 3.15 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 39.7 million rupees, an increase of 14.7% from 34.6 million rupees in the prior-year period.

The normalized profit margin climbed to 2.5% from 2.4% in the year-earlier period.

Total revenue grew 9.4% year over year to 1.60 billion rupees from 1.46 billion rupees, and total operating expenses rose 9.4% on an annual basis to 1.51 billion rupees from 1.38 billion rupees.

Reported net income rose 6.8% on an annual basis to 43.0 million rupees, or 3.91 rupees per share, from 40.3 million rupees, or 3.66 rupees per share.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.