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Shivam Autotech fiscal Q4 profit climbs 9.5% YOY

Shivam Autotech Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 49 Indian paise per share, a gain of 9.7% from 44 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 48.7 million rupees, an increase of 9.5% from 44.4 million rupees in the prior-year period.

The normalized profit margin increased to 4.4% from 4.1% in the year-earlier period.

Total revenue grew year over year to 1.11 billion rupees from 1.09 billion rupees, and total operating expenses rose from the prior-year period to 989.2 million rupees from 971.6 million rupees.

Reported net income rose 8.8% on an annual basis to 62.1 million rupees, or 62 paise per share, from 57.0 million rupees, or 57 paise per share.

For the year, the company's normalized net income totaled 2.25 rupees per share, a gain of 24.2% from 1.81 rupees per share in the prior year.

Normalized net income was 225.1 million rupees, an increase of 24.2% from 181.3 million rupees in the prior year.

Full-year total revenue grew 11.9% from the prior-year period to 4.46 billion rupees from 3.99 billion rupees, and total operating expenses increased 11.6% year over year to 3.90 billion rupees from 3.49 billion rupees.

The company said reported net income decreased year over year to 281.5 million rupees, or 2.81 rupees per share, in the full year, from 284.5 million rupees, or 2.84 rupees per share.

As of Aug. 18, US$1 was equivalent to 65.44 Indian rupees.