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DFM Foods fiscal Q4 profit climbs YOY

DFM Foods Ltd said its normalized net income for the fiscal fourth quarter ended March 31 came to 4.56 Indian rupees per share, a gain from 1.16 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 45.6 million rupees, an increase from 11.6 million rupees in the prior-year period.

The normalized profit margin climbed to 5.3% from 1.8% in the year-earlier period.

Total revenue grew 34.8% on an annual basis to 854.9 million rupees from 634.0 million rupees, and total operating expenses rose 27.0% on an annual basis to 765.1 million rupees from 602.6 million rupees.

Reported net income increased on an annual basis to 27.9 million rupees, or 2.79 rupees per share, from 5.5 million rupees, or 55 paise per share.

For the year, the company's normalized net income totaled 12.31 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 11.19 rupees.

EPS rose 60.7% from 7.66 rupees in the prior year.

Normalized net income was 123.1 million rupees, a rise of 60.7% from 76.6 million rupees in the prior year.

Full-year total revenue increased 9.9% year over year to 2.89 billion rupees from 2.63 billion rupees, and total operating expenses grew 7.4% year over year to 2.64 billion rupees from 2.46 billion rupees.

The company said reported net income increased 55.1% on an annual basis to 110.1 million rupees, or 11.01 rupees per share, in the full year, from 71.0 million rupees, or 7.10 rupees per share.

As of July 14, US$1 was equivalent to 63.34 Indian rupees.