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Vaibhav Global fiscal Q4 profit falls YOY

Vaibhav Global Ltd said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 4.77 Indian rupees per share, a decrease of 18.5% from 5.86 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 155.1 million rupees, a decrease of 18.4% from 190.0 million rupees in the prior-year period.

The normalized profit margin declined to 4.3% from 5.3% in the year-earlier period.

Total revenue came to 3.59 billion rupees, compared with 3.60 billion rupees in the year-earlier period, and total operating expenses declined from the prior-year period to 3.39 billion rupees from 3.43 billion rupees.

Reported net income fell 52.2% year over year to 175.7 million rupees, or 5.41 rupees per share, from 367.7 million rupees, or 11.33 rupees per share.

For the year, the company's normalized net income totaled 24.54 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 34.00 rupees.

EPS declined 18.3% from 30.02 rupees in the prior year.

Normalized net income was 797.7 million rupees, a decline of 18.1% from 974.0 million rupees in the prior year.

Full-year total revenue rose 6.0% from the prior-year period to 13.76 billion rupees from 12.98 billion rupees, and total operating expenses increased 7.9% on an annual basis to 12.53 billion rupees from 11.62 billion rupees.

The company said reported net income decreased 32.4% year over year to 1.03 billion rupees, or 31.74 rupees per share, in the full year, from 1.53 billion rupees, or 47.02 rupees per share.

As of June 26, US$1 was equivalent to 63.54 Indian rupees.