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TTK Prestige fiscal Q1 profit falls YOY

TTK Prestige Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 19.00 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 22.01 rupees per share.

EPS decreased year over year from 19.34 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 221.2 million rupees, a decrease from 225.1 million rupees in the year-earlier period.

The normalized profit margin dropped to 6.3% from 6.7% in the year-earlier period.

Total revenue climbed year over year to 3.49 billion rupees from 3.36 billion rupees, and total operating expenses grew year over year to 3.15 billion rupees from 3.01 billion rupees.

Reported net income fell 14.9% from the prior-year period to 219.6 million rupees, or 18.86 rupees per share, from 258.1 million rupees, or 22.17 rupees per share.

As of July 23, US$1 was equivalent to 63.86 Indian rupees.