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CCL Products (India) profit misses consensus by 25.6% in fiscal Q4

CCL Products (India) Ltd said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 1.53 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 2.06 rupees per share.

EPS rose 12.6% year over year from 1.36 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 203.7 million rupees, a gain of 12.5% from 181.1 million rupees in the prior-year period.

The normalized profit margin climbed to 9.4% from 8.3% in the year-earlier period.

Total revenue totaled 2.16 billion rupees, compared with 2.17 billion rupees in the prior-year period, and total operating expenses fell from the prior-year period to 1.71 billion rupees from 1.74 billion rupees.

Reported net income rose 20.7% year over year to 215.3 million rupees, or 1.62 rupees per share, from 178.3 million rupees, or 1.34 rupees per share.

For the year, the company's normalized net income totaled 6.28 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 7.39 rupees.

EPS rose 34.3% from 4.68 rupees in the prior year.

Normalized net income was 836.2 million rupees, a gain of 34.3% from 622.4 million rupees in the prior year.

Full-year total revenue grew 22.8% from the prior-year period to 8.81 billion rupees from 7.17 billion rupees, and total operating expenses grew 22.7% on an annual basis to 7.26 billion rupees from 5.92 billion rupees.

The company said reported net income grew 45.9% on an annual basis to 939.8 million rupees, or 7.06 rupees per share, in the full year, from 644.2 million rupees, or 4.84 rupees per share.

As of June 3, US$1 was equivalent to 63.95 Indian rupees.