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Binayak Tex Processors fiscal Q4 profit climbs YOY

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Binayak Tex Processors fiscal Q4 profit climbs YOY

Binayak Tex Processors Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 19.64 Indian rupees per share, an increase from 7.17 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 14.0 million rupees, an increase from 5.1 million rupees in the prior-year period.

The normalized profit margin increased to 2.4% from 1.0% in the year-earlier period.

Total revenue grew 13.5% on an annual basis to 577.7 million rupees from 508.8 million rupees, and total operating expenses grew 11.3% on an annual basis to 533.9 million rupees from 479.7 million rupees.

Reported net income decreased 57.4% year over year to 14.8 million rupees, or 20.74 rupees per share, from 34.7 million rupees, or 48.75 rupees per share.

For the year, the company's normalized net income totaled 47.56 rupees per share, a gain from 46.88 rupees per share in the prior year.

Normalized net income was 33.8 million rupees, an increase from 33.3 million rupees in the prior year.

Full-year total revenue rose 26.3% year over year to 2.05 billion rupees from 1.62 billion rupees, and total operating expenses rose 27.4% on an annual basis to 1.95 billion rupees from 1.53 billion rupees.

The company said reported net income fell 41.7% on an annual basis to 38.1 million rupees, or 53.52 rupees per share, in the full year, from 65.3 million rupees, or 91.80 rupees per share.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.