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TTK Prestige profit misses consensus by 26.3% in fiscal Q1

TTK Prestige Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 19.34 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 26.25 rupees per share.

EPS decreased 6.8% year over year from 20.74 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 225.1 million rupees, a decrease from 235.2 million rupees in the year-earlier period.

The normalized profit margin dropped to 6.7% from 7.7% in the year-earlier period.

Total revenue climbed 9.8% year over year to 3.36 billion rupees from 3.06 billion rupees, and total operating expenses increased 12.6% year over year to 3.01 billion rupees from 2.67 billion rupees.

Reported net income totaled 258.1 million rupees, or 22.17 rupees per share, compared to 257.9 million rupees, or 22.74 rupees per share, in the year-earlier period.

As of July 15, US$1 was equivalent to 60.19 Indian rupees.