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Lumax Industries fiscal Q4 profit falls YOY

Lumax Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 1.07 Indian rupees per share, a decrease of 60.8% from 2.73 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 10.0 million rupees, a decrease of 60.8% from 25.5 million rupees in the prior-year period.

The normalized profit margin fell to 0.3% from 0.8% in the year-earlier period.

Total revenue rose on an annual basis to 3.16 billion rupees from 3.03 billion rupees, and total operating expenses climbed 5.5% from the prior-year period to 3.08 billion rupees from 2.92 billion rupees.

Reported net income declined 50.4% year over year to 24.3 million rupees, or 2.61 rupees per share, from 49.1 million rupees, or 5.26 rupees per share.

For the year, the company's normalized net income totaled 9.52 rupees per share, a gain from 1.94 rupees per share in the prior year.

Normalized net income was 89.0 million rupees, a rise from 18.2 million rupees in the prior year.

Full-year total revenue rose from the prior-year period to 11.43 billion rupees from 11.17 billion rupees, and total operating expenses grew on an annual basis to 11.16 billion rupees from 10.98 billion rupees.

The company said reported net income rose on an annual basis to 165.7 million rupees, or 17.73 rupees per share, in the full year, from 77.0 million rupees, or 8.24 rupees per share.

As of May 22, US$1 was equivalent to 63.45 Indian rupees.