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Siyaram Silk Mills fiscal Q4 profit climbs 18.7% YOY

Siyaram Silk Mills Ltd said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 5.86 Indian rupees per share, a gain of 18.4% from 4.95 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 275.4 million rupees, an increase of 18.7% from 231.9 million rupees in the year-earlier period.

The normalized profit margin declined to 5.7% from 5.7% in the year-earlier period.

Total revenue grew 19.4% year over year to 4.86 billion rupees from 4.07 billion rupees, and total operating expenses climbed 20.0% year over year to 4.33 billion rupees from 3.61 billion rupees.

Reported net income rose 53.4% year over year to 320.7 million rupees, or 6.82 rupees per share, from 209.1 million rupees, or 4.46 rupees per share.

For the year, the company's normalized net income totaled 15.68 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 15.08 rupees.

EPS rose 13.7% from 13.80 rupees in the prior year.

Normalized net income was 735.1 million rupees, an increase of 13.7% from 646.7 million rupees in the prior year.

Full-year total revenue increased 15.9% year over year to 15.10 billion rupees from 13.03 billion rupees, and total operating expenses increased 16.1% on an annual basis to 13.73 billion rupees from 11.82 billion rupees.

The company said reported net income increased 22.4% year over year to 787.2 million rupees, or 16.79 rupees per share, in the full year, from 642.9 million rupees, or 13.72 rupees per share.

As of June 23, US$1 was equivalent to 63.56 Indian rupees.