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Sintex Industries profit misses consensus by 36.8% in fiscal Q1

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Sintex Industries profit misses consensus by 36.8% in fiscal Q1

Sintex Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 1.78 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 2.82 rupees per share.

EPS climbed 32.7% year over year from 1.34 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 568.4 million rupees, a gain of 36.3% from 417.1 million rupees in the prior-year period.

The normalized profit margin rose to 4.2% from 3.7% in the year-earlier period.

Total revenue rose 19.3% year over year to 13.41 billion rupees from 11.24 billion rupees, and total operating expenses climbed 16.6% from the prior-year period to 11.89 billion rupees from 10.19 billion rupees.

Reported net income grew 32.1% on an annual basis to 616.0 million rupees, or 1.93 rupees per share, from 466.2 million rupees, or 1.50 rupees per share.

As of Aug. 5, US$1 was equivalent to 60.85 Indian rupees.