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Igarashi Motors India profit beats consensus by 33.0% in fiscal Q4

Igarashi Motors India Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was 5.40 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.06 rupees per share.

EPS climbed 99.6% year over year from 2.71 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 165.2 million rupees, an increase from 78.4 million rupees in the prior-year period.

The normalized profit margin climbed to 16.2% from 8.5% in the year-earlier period.

Total revenue increased 10.4% year over year to 1.02 billion rupees from 922.7 million rupees, and total operating expenses decreased on an annual basis to 765.7 million rupees from 781.3 million rupees.

Reported net income increased 71.6% on an annual basis to 170.6 million rupees, or 5.57 rupees per share, from 99.4 million rupees, or 3.43 rupees per share.

For the year, the company's normalized net income totaled 14.65 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 14.85 rupees.

EPS rose 7.4% from 13.63 rupees in the prior year.

Normalized net income was 448.0 million rupees, a rise of 43.4% from 312.4 million rupees in the prior year.

Full-year total revenue increased 6.6% from the prior-year period to 3.85 billion rupees from 3.61 billion rupees, and total operating expenses increased 5.1% on an annual basis to 3.21 billion rupees from 3.06 billion rupees.

The company said reported net income increased 6.1% year over year to 489.6 million rupees, or 16.01 rupees per share, in the full year, from 461.4 million rupees, or 20.14 rupees per share.

As of June 29, US$1 was equivalent to 63.73 Indian rupees.