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VST Industries profit misses consensus by 34.8% in fiscal Q1

VST Industries Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 19.24 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 29.50 rupees per share.

EPS declined 26.9% year over year from 26.31 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 297.0 million rupees, a decline of 26.9% from 406.2 million rupees in the prior-year period.

The normalized profit margin fell to 15.6% from 19.1% in the year-earlier period.

Total revenue fell 10.6% year over year to 1.90 billion rupees from 2.13 billion rupees, and total operating expenses decreased from the prior-year period to 1.48 billion rupees from 1.51 billion rupees.

Reported net income fell 28.4% from the prior-year period to 309.2 million rupees, or 20.03 rupees per share, from 432.1 million rupees, or 27.99 rupees per share.

As of Aug. 12, US$1 was equivalent to 64.75 Indian rupees.