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Sutlej Textiles & Industries fiscal Q4 profit climbs 51.8% YOY

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Sutlej Textiles & Industries fiscal Q4 profit climbs 51.8% YOY

Sutlej Textiles and Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 1.88 Indian rupees per share, a gain of 51.8% from 1.24 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 307.4 million rupees, an increase of 51.8% from 202.4 million rupees in the prior-year period.

The normalized profit margin increased to 7.8% from 4.3% in the year-earlier period.

Total revenue rose 17.4% year over year to 5.50 billion rupees from 4.68 billion rupees, and total operating expenses climbed 16.2% year over year to 4.98 billion rupees from 4.29 billion rupees.

Reported net income increased 78.0% year over year to 488.1 million rupees, or 2.98 rupees per share, from 274.2 million rupees, or 1.67 rupees per share.

For the year, the company's normalized net income totaled 6.80 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 7.83 rupees.

EPS rose 20.8% from 5.63 rupees in the prior year.

Normalized net income was 1.11 billion rupees, an increase of 20.8% from 922.3 million rupees in the prior year.

Full-year total revenue rose 20.9% year over year to 22.71 billion rupees from 18.78 billion rupees, and total operating expenses grew 21.0% on an annual basis to 20.74 billion rupees from 17.14 billion rupees.

The company said reported net income increased 24.2% year over year to 1.43 billion rupees, or 8.75 rupees per share, in the full year, from 1.15 billion rupees, or 7.05 rupees per share.

As of Aug. 3, US$1 was equivalent to 66.88 Indian rupees.