Raymond Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 6.49 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 7.33 rupees per share.
In the prior-year period, the per-share result was a profit of 6.55 rupees.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 398.7 million rupees, compared with 402.0 million rupees in the prior-year period.
The normalized profit margin declined to 2.9% from 3.3% in the year-earlier period.
Total revenue grew 14.5% on an annual basis to 13.82 billion rupees from 12.07 billion rupees, and total operating expenses increased 15.5% from the prior-year period to 12.81 billion rupees from 11.09 billion rupees.
Reported net income decreased from the prior-year period to 560.7 million rupees, or 9.13 rupees per share, from 568.9 million rupees, or 9.27 rupees per share.
As of Jan. 21, US$1 was equivalent to 61.50 Indian rupees.
