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MT Educare fiscal Q4 profit falls YOY

MT Educare Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 21 Indian paise per share, a decrease of 49.3% from 42 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.5 million rupees, a decline of 49.2% from 16.7 million rupees in the prior-year period.

The normalized profit margin fell to 1.8% from 4.0% in the year-earlier period.

Total revenue declined on an annual basis to 411.7 million rupees from 420.8 million rupees, and total operating expenses rose 15.0% from the prior-year period to 433.8 million rupees from 377.1 million rupees.

Reported net income grew 67.5% year over year to 50.6 million rupees, or 1.27 rupees per share, from 30.2 million rupees, or 76 paise per share.

For the year, the company's normalized net income totaled 6.02 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 6.40 rupees.

EPS rose 28.8% from 4.67 rupees in the prior year.

Normalized net income was 239.6 million rupees, an increase of 28.9% from 185.9 million rupees in the prior year.

Full-year total revenue grew 7.6% on an annual basis to 2.12 billion rupees from 1.97 billion rupees, and total operating expenses rose year over year to 1.77 billion rupees from 1.69 billion rupees.

The company said reported net income grew 41.3% year over year to 297.3 million rupees, or 7.47 rupees per share, in the full year, from 210.3 million rupees, or 5.29 rupees per share.

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