Grasim Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 6.39 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 10.22 rupees per share.
EPS declined 7.1% year over year from 6.88 rupees.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.94 billion rupees, a decrease of 7.0% from 3.16 billion rupees in the year-earlier period.
The normalized profit margin fell to 3.7% from 4.6% in the year-earlier period.
Total revenue climbed 16.0% year over year to 79.45 billion rupees from 68.49 billion rupees, and total operating expenses rose 16.2% from the prior-year period to 71.75 billion rupees from 61.72 billion rupees.
Reported net income fell 7.5% on an annual basis to 4.16 billion rupees, or 9.06 rupees per share, from 4.50 billion rupees, or 9.80 rupees per share.
As of Oct. 29, US$1 was equivalent to 61.20 Indian rupees.
