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VST Industries fiscal Q2 profit climbs 18.1% YOY

VST Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 23.16 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 23.80 rupees per share.

EPS rose 18.0% year over year from 19.62 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 357.7 million rupees, an increase of 18.1% from 302.9 million rupees in the prior-year period.

The normalized profit margin increased to 17.6% from 14.5% in the year-earlier period.

Total revenue declined on an annual basis to 2.03 billion rupees from 2.09 billion rupees, and total operating expenses declined 7.6% from the prior-year period to 1.51 billion rupees from 1.64 billion rupees.

Reported net income grew 16.9% year over year to 379.5 million rupees, or 24.57 rupees per share, from 324.5 million rupees, or 21.02 rupees per share.

As of Oct. 28, US$1 was equivalent to 61.19 Indian rupees.