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Speciality Restaurants profit misses consensus by 78.0% in fiscal Q2

Speciality Restaurants Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 13 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 60 paise per share.

EPS fell 67.0% year over year from 40 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.1 million rupees, a decrease of 67.2% from 18.7 million rupees in the year-earlier period.

The normalized profit margin fell to 0.8% from 2.6% in the year-earlier period.

Total revenue increased 12.4% on an annual basis to 796.8 million rupees from 708.8 million rupees, and total operating expenses grew 17.9% on an annual basis to 824.8 million rupees from 699.7 million rupees.

Reported net income fell 57.1% year over year to 10.2 million rupees, or 22 paise per share, from 23.8 million rupees, or 51 paise per share.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.