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DFM Foods profit misses consensus by 22.8% in fiscal Q2

DFM Foods Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 2.27 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 2.94 rupees per share.

EPS fell 11.2% year over year from 2.56 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 22.7 million rupees, a decrease of 11.2% from 25.6 million rupees in the year-earlier period.

The normalized profit margin dropped to 3.1% from 3.6% in the year-earlier period.

Total revenue climbed on an annual basis to 727.8 million rupees from 709.5 million rupees, and total operating expenses climbed on an annual basis to 677.9 million rupees from 657.5 million rupees.

Reported net income rose from the prior-year period to 23.9 million rupees, or 2.39 rupees per share, from 23.1 million rupees, or 2.31 rupees per share.

As of Nov. 14, US$1 was equivalent to 61.73 Indian rupees.