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Ambika Cotton Mills profit misses consensus by 36.8% in fiscal Q3

Ambika Cotton Mills Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 15.18 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 24.03 rupees per share.

EPS declined 28.4% year over year from 21.20 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 89.2 million rupees, a decline of 28.4% from 124.6 million rupees in the prior-year period.

The normalized profit margin fell to 7.2% from 10.0% in the year-earlier period.

Total revenue decreased on an annual basis to 1.23 billion rupees from 1.25 billion rupees, and total operating expenses increased year over year to 1.05 billion rupees from 1.02 billion rupees.

Reported net income declined 25.9% year over year to 111.7 million rupees, or 19.01 rupees per share, from 150.7 million rupees, or 25.65 rupees per share.

As of Jan. 30, US$1 was equivalent to 62.01 Indian rupees.