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Chordia Food Products profit misses consensus by 42.8% in fiscal Q1

Chordia Food Products Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 90 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 1.58 rupees per share.

EPS fell 27.4% year over year from 1.25 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.7 million rupees, a decline of 26.7% from 3.7 million rupees in the prior-year period.

The normalized profit margin declined to 2.7% from 4.5% in the year-earlier period.

Total revenue increased 20.8% on an annual basis to 100.1 million rupees from 82.9 million rupees, and total operating expenses grew 22.9% from the prior-year period to 93.4 million rupees from 76.0 million rupees.

Reported net income fell 26.8% from the prior-year period to 3.1 million rupees, or 1.03 rupees per share, from 4.2 million rupees, or 1.42 rupees per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.