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Britannia Industries fiscal Q3 profit climbs 44.8% YOY

Britannia Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 10.72 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 11.74 rupees per share.

EPS rose 44.6% year over year from 7.41 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.29 billion rupees, an increase of 44.8% from 888.4 million rupees in the prior-year period.

The normalized profit margin rose to 6.4% from 5.0% in the year-earlier period.

Total revenue grew 13.7% on an annual basis to 20.15 billion rupees from 17.72 billion rupees, and total operating expenses rose 11.9% year over year to 18.28 billion rupees from 16.33 billion rupees.

Reported net income grew 36.5% from the prior-year period to 1.37 billion rupees, or 11.44 rupees per share, from 1.01 billion rupees, or 8.39 rupees per share.

As of Feb. 3, US$1 was equivalent to 61.67 Indian rupees.