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Paramount Cosmetics profit misses consensus by 23.1% in fiscal Q1

Paramount Cosmetics (India) Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 62 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 80 paise per share.

EPS declined 16.6% year over year from 74 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.0 million rupees, a decrease of 16.5% from 3.6 million rupees in the prior-year period.

The normalized profit margin dropped to 2.5% from 3.1% in the year-earlier period.

Total revenue increased year over year to 119.9 million rupees from 117.6 million rupees, and total operating expenses rose on an annual basis to 110.5 million rupees from 107.6 million rupees.

Reported net income totaled 3.1 million rupees, or 64 paise per share, compared to 3.1 million rupees, or 64 paise per share, in the year-earlier period.

As of Aug. 6, US$1 was equivalent to 61.34 Indian rupees.