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Apollo Tyres fiscal Q4 profit climbs 21.5% YOY

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Apollo Tyres fiscal Q4 profit climbs 21.5% YOY

Apollo Tyres Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 4.82 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 5.47 rupees per share.

EPS increased 20.7% year over year from 3.99 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.45 billion rupees, an increase of 21.5% from 2.02 billion rupees in the year-earlier period.

The normalized profit margin increased to 7.9% from 6.3% in the year-earlier period.

Total revenue decreased year over year to 30.98 billion rupees from 32.16 billion rupees, and total operating expenses decreased 5.0% on an annual basis to 26.59 billion rupees from 27.99 billion rupees.

Reported net income grew 9.3% from the prior-year period to 3.07 billion rupees, or 6.05 rupees per share, from 2.81 billion rupees, or 5.58 rupees per share.

For the year, the company's normalized net income totaled 17.40 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 20.05 rupees.

EPS rose 9.3% from 15.92 rupees in the prior year.

Normalized net income was 8.85 billion rupees, a gain of 10.2% from 8.03 billion rupees in the prior year.

Full-year total revenue declined on an annual basis to 127.26 billion rupees from 133.15 billion rupees, and total operating expenses decreased 5.2% on an annual basis to 111.75 billion rupees from 117.92 billion rupees.

The company said reported net income decreased year over year to 9.78 billion rupees, or 19.23 rupees per share, in the full year, from 10.05 billion rupees, or 19.91 rupees per share.

As of May 12, US$1 was equivalent to 64.32 Indian rupees.