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Speciality Restaurants profit misses consensus by 35.2% in fiscal Q1

Speciality Restaurants Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 39 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 60 paise per share.

EPS increased 24.8% year over year from 31 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 18.4 million rupees, an increase of 26.7% from 14.5 million rupees in the prior-year period.

The normalized profit margin increased to 2.3% from 2.1% in the year-earlier period.

Total revenue climbed 17.4% on an annual basis to 801.4 million rupees from 682.9 million rupees, and total operating expenses rose 16.8% on an annual basis to 791.6 million rupees from 677.7 million rupees.

Reported net income rose 18.8% from the prior-year period to 22.7 million rupees, or 48 paise per share, from 19.1 million rupees, or 41 paise per share.

As of Aug. 12, US$1 was equivalent to 64.75 Indian rupees.