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Motherson Sumi Systems profit misses consensus by 18.0% in fiscal Q2

Motherson Sumi Systems Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 1.02 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.24 rupees per share.

EPS increased 32.1% year over year from 77 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.02 billion rupees, an increase of 32.8% from 1.52 billion rupees in the prior-year period.

The normalized profit margin increased to 2.6% from 2.1% in the year-earlier period.

Total revenue grew 10.6% year over year to 79.22 billion rupees from 71.66 billion rupees, and total operating expenses increased 11.3% year over year to 74.30 billion rupees from 66.74 billion rupees.

Reported net income declined 25.2% on an annual basis to 1.04 billion rupees, or 52 paise per share, from 1.40 billion rupees, or 71 paise per share.

As of Nov. 10, US$1 was equivalent to 61.55 Indian rupees.