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VIP Industries fiscal Q4 profit climbs 26.3% YOY

VIP Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 51 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 50 paise per share.

EPS increased 24.5% year over year from 41 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 75.0 million rupees, a gain of 26.3% from 59.4 million rupees in the prior-year period.

The normalized profit margin increased to 3.0% from 2.6% in the year-earlier period.

Total revenue grew 8.6% on an annual basis to 2.46 billion rupees from 2.27 billion rupees, and total operating expenses increased 7.9% on an annual basis to 2.34 billion rupees from 2.17 billion rupees.

Reported net income decreased 49.3% year over year to 103.0 million rupees, or 70 paise per share, from 203.0 million rupees, or 1.40 rupees per share.

For the year, the company's normalized net income totaled 2.71 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 3.30 rupees.

EPS declined 5.4% from 2.86 rupees in the prior year.

Normalized net income was 382.5 million rupees, a decline of 5.5% from 404.7 million rupees in the prior year.

Full-year total revenue increased 7.7% from the prior-year period to 10.48 billion rupees from 9.73 billion rupees, and total operating expenses grew 9.4% year over year to 9.88 billion rupees from 9.03 billion rupees.

The company said reported net income declined 19.2% year over year to 466.0 million rupees, or 3.30 rupees per share, in the full year, from 576.4 million rupees, or 4.08 rupees per share.

As of May 14, US$1 was equivalent to 63.54 Indian rupees.