Wabco India Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 15.39 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 19.00 rupees per share.

EPS increased 28.2% year over year from 12.01 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 291.9 million rupees, a gain of 28.1% from 227.8 million rupees in the prior-year period.

The normalized profit margin climbed to 6.6% from 6.2% in the year-earlier period.

Total revenue increased 19.4% year over year to 4.41 billion rupees from 3.70 billion rupees, and total operating expenses increased 18.4% on an annual basis to 3.83 billion rupees from 3.24 billion rupees.

Reported net income declined 7.3% on an annual basis to 304.0 million rupees, or 16.03 rupees per share, from 327.8 million rupees, or 17.28 rupees per share.

For the year, the company's normalized net income totaled 57.11 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 68.66 rupees.

EPS rose 8.8% from 52.48 rupees in the prior year.

Normalized net income was 1.08 billion rupees, an increase of 8.8% from 995.5 million rupees in the prior year.

Full-year total revenue increased 20.9% year over year to 13.51 billion rupees from 11.17 billion rupees, and total operating expenses grew 20.8% year over year to 11.80 billion rupees from 9.77 billion rupees.

The company said reported net income grew on an annual basis to 1.21 billion rupees, or 63.61 rupees per share, in the full year, from 1.17 billion rupees, or 61.94 rupees per share.

As of July 3, US$1 was equivalent to 63.43 Indian rupees.