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Zenith Fibres profit beats consensus by 44.0% in fiscal Q3

Zenith Fibres Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 3.46 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 2.40 rupees per share.

EPS rose year over year from 1.67 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.3 million rupees, an increase from 7.4 million rupees in the year-earlier period.

The normalized profit margin rose to 9.1% from 5.3% in the year-earlier period.

Total revenue grew 21.5% year over year to 168.7 million rupees from 138.8 million rupees, and total operating expenses climbed 14.3% year over year to 149.5 million rupees from 130.8 million rupees.

Reported net income grew from the prior-year period to 16.4 million rupees, or 3.72 rupees per share, from 7.8 million rupees, or 1.77 rupees per share.

As of Feb. 6, US$1 was equivalent to 61.94 Indian rupees.