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TTK Prestige profit misses consensus by 66.1% in fiscal Q4

TTK Prestige Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 6.25 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 18.46 rupees per share.

EPS fell 51.9% year over year from 12.98 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 72.8 million rupees, a decline of 51.9% from 151.2 million rupees in the prior-year period.

The normalized profit margin fell to 2.6% from 5.7% in the year-earlier period.

Total revenue climbed on an annual basis to 2.75 billion rupees from 2.65 billion rupees, and total operating expenses increased 9.6% from the prior-year period to 2.55 billion rupees from 2.33 billion rupees.

Reported net income decreased 62.8% on an annual basis to 97.6 million rupees, or 8.38 rupees per share, from 262.1 million rupees, or 22.51 rupees per share.

For the year, the company's normalized net income totaled 70.26 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 96.98 rupees.

EPS declined 10.3% from 78.32 rupees in the prior year.

Normalized net income was 818.0 million rupees, a decrease of 9.6% from 904.8 million rupees in the prior year.

Full-year total revenue grew 7.1% on an annual basis to 13.78 billion rupees from 12.86 billion rupees, and total operating expenses rose 9.3% on an annual basis to 12.39 billion rupees from 11.33 billion rupees.

The company said reported net income decreased 17.4% year over year to 923.2 million rupees, or 79.30 rupees per share, in the full year, from 1.12 billion rupees, or 96.77 rupees per share.

As of June 24, US$1 was equivalent to 63.55 Indian rupees.