Rane (Madras) Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 3.15 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.20 rupees per share.
EPS declined 21.3% year over year from 4.00 rupees.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 34.6 million rupees, a decline of 14.9% from 40.7 million rupees in the prior-year period.
The normalized profit margin fell to 1.8% from 2.6% in the year-earlier period.
Total revenue increased 18.1% on an annual basis to 1.88 billion rupees from 1.59 billion rupees, and total operating expenses increased 18.9% year over year to 1.79 billion rupees from 1.50 billion rupees.
Reported net income declined 31.2% from the prior-year period to 39.1 million rupees, or 3.56 rupees per share, from 56.9 million rupees, or 5.59 rupees per share.
As of Oct. 27, US$1 was equivalent to 61.30 Indian rupees.
