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TTK Prestige fiscal Q2 profit climbs 18.8% YOY

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Investment Banking Essentials: February 21

TTK Prestige fiscal Q2 profit climbs 18.8% YOY

TTK Prestige Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 26.42 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 26.50 rupees per share.

EPS climbed 18.7% year over year from 22.25 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 307.6 million rupees, an increase of 18.8% from 259.0 million rupees in the prior-year period.

The normalized profit margin increased to 7.3% from 6.8% in the year-earlier period.

Total revenue rose 10.2% year over year to 4.21 billion rupees from 3.82 billion rupees, and total operating expenses grew 9.6% from the prior-year period to 3.73 billion rupees from 3.41 billion rupees.

Reported net income increased 21.7% year over year to 340.4 million rupees, or 29.24 rupees per share, from 279.8 million rupees, or 24.04 rupees per share.

As of Oct. 14, US$1 was equivalent to 64.90 Indian rupees.