VST Industries Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 19.15 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 25.50 rupees per share.

EPS decreased 17.3% year over year from 23.16 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 295.6 million rupees, a decrease of 17.4% from 357.7 million rupees in the year-earlier period.

The normalized profit margin declined to 14.5% from 17.6% in the year-earlier period.

Total revenue came to 2.03 billion rupees, compared with 2.03 billion rupees in the prior-year period, and total operating expenses rose 7.2% on an annual basis to 1.62 billion rupees from 1.51 billion rupees.

Reported net income declined 16.2% year over year to 317.9 million rupees, or 20.59 rupees per share, from 379.5 million rupees, or 24.57 rupees per share.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.