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Tilaknagar Industries profit beats consensusin fiscal Q1

Tilaknagar Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 1.95 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 80 paise per share.

EPS climbed 92.2% year over year from 1.01 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 245.9 million rupees, a gain of 92.2% from 127.9 million rupees in the prior-year period.

The normalized profit margin rose to 15.0% from 7.7% in the year-earlier period.

Total revenue declined on an annual basis to 1.64 billion rupees from 1.67 billion rupees, and total operating expenses declined 21.3% on an annual basis to 1.05 billion rupees from 1.33 billion rupees.

Reported net income grew 78.8% year over year to 308.9 million rupees, or 2.45 rupees per share, from 172.7 million rupees, or 1.37 rupees per share.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.