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Motherson Sumi Systems profit misses consensus by 16.6% in fiscal Q3

Motherson Sumi Systems Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 1.37 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.64 rupees per share.

EPS rose 49.2% year over year from 91 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.71 billion rupees, a gain of 49.3% from 1.82 billion rupees in the prior-year period.

The normalized profit margin rose to 2.8% from 2.0% in the year-earlier period.

Total revenue climbed 8.1% on an annual basis to 96.76 billion rupees from 89.50 billion rupees, and total operating expenses grew 7.5% on an annual basis to 89.56 billion rupees from 83.33 billion rupees.

Reported net income rose 20.9% on an annual basis to 3.07 billion rupees, or 1.55 rupees per share, from 2.54 billion rupees, or 1.28 rupees per share.

As of Feb. 9, US$1 was equivalent to 67.92 Indian rupees.