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Som Distilleries & Breweries fiscal Q1 profit falls 15.0% YOY

Som Distilleries & Breweries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 2.10 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 2.28 rupees per share.

EPS decreased 15.1% year over year from 2.47 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 57.8 million rupees, a decrease of 15.0% from 68.0 million rupees in the prior-year period.

The normalized profit margin fell to 8.2% from 8.6% in the year-earlier period.

Total revenue fell 10.8% on an annual basis to 701.8 million rupees from 786.6 million rupees, and total operating expenses fell 10.6% from the prior-year period to 605.9 million rupees from 677.5 million rupees.

Reported net income fell 16.7% year over year to 61.7 million rupees, or 2.24 rupees per share, from 74.0 million rupees, or 2.69 rupees per share.

As of Aug. 21, US$1 was equivalent to 60.57 Indian rupees.