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Premco Global fiscal Q4 profit climbs 64.9% YOY

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Premco Global fiscal Q4 profit climbs 64.9% YOY

Premco Global Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 10.20 Indian rupees per share, an increase of 59.3% from 6.40 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 34.0 million rupees, an increase of 64.9% from 20.6 million rupees in the prior-year period.

The normalized profit margin increased to 17.9% from 11.4% in the year-earlier period.

Total revenue climbed 5.1% year over year to 190.6 million rupees from 181.4 million rupees, and total operating expenses decreased from the prior-year period to 136.8 million rupees from 140.5 million rupees.

Reported net income grew from the prior-year period to 40.5 million rupees, or 12.13 rupees per share, from 18.7 million rupees, or 5.79 rupees per share.

For the year, the company's normalized net income totaled 33.71 rupees per share, a gain of 39.5% from 24.17 rupees per share in the prior year.

Normalized net income was 112.4 million rupees, a rise of 44.6% from 77.8 million rupees in the prior year.

Full-year total revenue increased 9.4% year over year to 722.8 million rupees from 660.4 million rupees, and total operating expenses grew on an annual basis to 542.0 million rupees from 533.8 million rupees.

The company said reported net income increased 48.4% year over year to 120.5 million rupees, or 36.14 rupees per share, in the full year, from 81.2 million rupees, or 25.24 rupees per share.

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