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Banswara Syntex profit misses consensus by 33.9% in fiscal Q1


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Banswara Syntex profit misses consensus by 33.9% in fiscal Q1

Banswara Syntex Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 3.18 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.81 rupees per share.

EPS climbed 14.2% year over year from 2.78 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 53.9 million rupees, a gain of 30.8% from 41.2 million rupees in the year-earlier period.

The normalized profit margin increased to 1.8% from 1.5% in the year-earlier period.

Total revenue rose 5.8% year over year to 3.00 billion rupees from 2.83 billion rupees, and total operating expenses increased 5.8% on an annual basis to 2.73 billion rupees from 2.58 billion rupees.

Reported net income increased 31.5% year over year to 48.6 million rupees, or 2.87 rupees per share, from 37.0 million rupees, or 2.50 rupees per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.