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Blue Chip Tex Industries fiscal Q4 profit climbs 45.1% YOY

Blue Chip Tex Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 2.85 Indian rupees per share, an increase of 45.1% from 1.96 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 5.6 million rupees, a gain of 45.1% from 3.9 million rupees in the prior-year period.

The normalized profit margin declined to 1.7% from 2.1% in the year-earlier period.

Total revenue climbed 76.5% year over year to 326.3 million rupees from 184.9 million rupees, and total operating expenses climbed 79.8% from the prior-year period to 315.4 million rupees from 175.4 million rupees.

Reported net income increased 61.2% year over year to 7.2 million rupees, or 3.66 rupees per share, from 4.5 million rupees, or 2.27 rupees per share.

For the year, the company's normalized net income totaled 7.28 rupees per share, a gain of 28.8% from 5.65 rupees per share in the prior year.

Normalized net income was 14.3 million rupees, a gain of 28.8% from 11.1 million rupees in the prior year.

Full-year total revenue rose 56.1% year over year to 1.12 billion rupees from 714.5 million rupees, and total operating expenses grew 58.2% on an annual basis to 1.09 billion rupees from 686.4 million rupees.

The company said reported net income grew 48.2% on an annual basis to 17.1 million rupees, or 8.69 rupees per share, in the full year, from 11.6 million rupees, or 5.87 rupees per share.

As of July 7, US$1 was equivalent to 63.55 Indian rupees.