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TTK Prestige profit misses consensus by 25.7% in fiscal Q2

TTK Prestige Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 22.25 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 29.96 rupees per share.

EPS rose year over year from 21.94 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 259.0 million rupees, a gain from 255.4 million rupees in the prior-year period.

The normalized profit margin fell to 6.8% from 7.4% in the year-earlier period.

Total revenue increased 10.5% on an annual basis to 3.82 billion rupees from 3.46 billion rupees, and total operating expenses grew 11.6% on an annual basis to 3.41 billion rupees from 3.05 billion rupees.

Reported net income fell 7.7% on an annual basis to 279.8 million rupees, or 24.04 rupees per share, from 303.0 million rupees, or 26.03 rupees per share.

As of Oct. 13, US$1 was equivalent to 61.02 Indian rupees.