Kweichow Moutai Co. Ltd. said its normalized net income for the first quarter was 2.88 yuan per share, compared with the S&P Capital IQ consensus estimate of 3.16 yuan per share.
EPS climbed 17.7% year over year from 2.44 yuan.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.61 billion yuan, a gain of 17.7% from 3.07 billion yuan in the year-earlier period.
The normalized profit margin climbed to 42.3% from 41.2% in the year-earlier period.
Total revenue rose 14.7% on an annual basis to 8.54 billion yuan from 7.45 billion yuan, and total operating expenses rose 12.2% on an annual basis to 2.55 billion yuan from 2.27 billion yuan.
Reported net income increased 17.9% on an annual basis to 4.36 billion yuan, or 3.47 yuan per share, from 3.70 billion yuan, or 2.94 yuan per share.
As of April 20, US$1 was equivalent to 6.20 yuan.