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Bharat Seats profit beats consensus by 22.1% in fiscal Q2

Bharat Seats Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 63 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 52 paise per share.

EPS rose 77.4% year over year from 36 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 19.8 million rupees, an increase of 75.9% from 11.3 million rupees in the year-earlier period.

The normalized profit margin rose to 1.1% from 0.9% in the year-earlier period.

Total revenue grew 33.0% on an annual basis to 1.73 billion rupees from 1.30 billion rupees, and total operating expenses rose 33.1% on an annual basis to 1.69 billion rupees from 1.27 billion rupees.

Reported net income increased 35.4% on an annual basis to 22.2 million rupees, or 71 paise per share, from 16.4 million rupees, or 52 paise per share.

As of Oct. 21, US$1 was equivalent to 61.15 Indian rupees.