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CCL Products (India) profit misses consensus by 19.6% in fiscal Q3

CCL Products (India) Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1.71 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 2.13 rupees per share.

EPS rose 33.7% year over year from 1.28 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 227.5 million rupees, a gain of 33.6% from 170.3 million rupees in the year-earlier period.

The normalized profit margin increased to 9.4% from 8.6% in the year-earlier period.

Total revenue climbed 21.7% on an annual basis to 2.41 billion rupees from 1.98 billion rupees, and total operating expenses grew 21.5% from the prior-year period to 2.03 billion rupees from 1.67 billion rupees.

Reported net income grew 51.8% on an annual basis to 261.1 million rupees, or 1.96 rupees per share, from 171.9 million rupees, or 1.29 rupees per share.

As of Jan. 19, US$1 was equivalent to 61.63 Indian rupees.