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TT Ltd. fiscal Q4 profit climbs YOY

T.T. Ltd said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 1.68 Indian rupees per share, a gain from 61 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 36.1 million rupees, an increase from 13.1 million rupees in the year-earlier period.

The normalized profit margin rose to 1.9% from 0.6% in the year-earlier period.

Total revenue declined 6.7% on an annual basis to 1.90 billion rupees from 2.04 billion rupees, and total operating expenses declined 10.5% on an annual basis to 1.71 billion rupees from 1.91 billion rupees.

Reported net income increased year over year to 37.6 million rupees, or 1.75 rupees per share, from 14.9 million rupees, or 69 paise per share.

For the year, the company's normalized net income totaled 1.82 rupees per share, a decrease of 46.6% from 3.41 rupees per share in the prior year.

Normalized net income was 39.1 million rupees, a decrease of 46.6% from 73.2 million rupees in the prior year.

Full-year total revenue fell 8.7% from the prior-year period to 6.79 billion rupees from 7.44 billion rupees, and total operating expenses decreased 9.0% year over year to 6.31 billion rupees from 6.93 billion rupees.

The company said reported net income declined 55.0% year over year to 40.4 million rupees, or 1.88 rupees per share, in the full year, from 89.9 million rupees, or 4.18 rupees per share.

As of May 13, US$1 was equivalent to 63.88 Indian rupees.