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Grasim Industries profit misses consensus by 17.9% in fiscal Q3

Grasim Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, came to 12.58 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 15.33 rupees per share.

EPS increased 16.6% year over year from 10.79 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.88 billion rupees, a gain of 16.7% from 5.04 billion rupees in the prior-year period.

The normalized profit margin climbed to 6.9% from 5.6% in the year-earlier period.

Total revenue fell 6.1% year over year to 84.95 billion rupees from 90.44 billion rupees, and total operating expenses declined 7.4% from the prior-year period to 72.34 billion rupees from 78.11 billion rupees.

Reported net income increased 12.1% year over year to 7.28 billion rupees, or 15.58 rupees per share, from 6.50 billion rupees, or 13.90 rupees per share.

As of Jan. 30, US$1 was equivalent to 67.79 Indian rupees.