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Dollar Industries swings to profit in fiscal Q4

Dollar Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 1.37 Indian rupees per share, compared with a loss of 7 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 53.0 million rupees, compared with a loss of 2.9 million rupees in the prior-year period.

The normalized profit margin increased to 2.5% from negative 0.1% in the year-earlier period.

Total revenue increased 9.2% year over year to 2.10 billion rupees from 1.92 billion rupees, and total operating expenses climbed from the prior-year period to 1.98 billion rupees from 1.89 billion rupees.

Reported net income came to 32.3 million rupees, or 84 paise per share, compared to a loss of 13.3 million rupees, or a loss of 34 paise per share, in the year-earlier period.

For the year, the company's normalized net income totaled 4.95 rupees per share, a gain of 49.1% from 3.32 rupees per share in the prior year.

Normalized net income was 191.8 million rupees, an increase of 49.1% from 128.7 million rupees in the prior year.

Full-year total revenue grew 5.5% on an annual basis to 7.24 billion rupees from 6.86 billion rupees, and total operating expenses rose year over year to 6.79 billion rupees from 6.53 billion rupees.

The company said reported net income grew 41.7% on an annual basis to 194.5 million rupees, or 5.02 rupees per share, in the full year, from 137.2 million rupees, or 3.54 rupees per share.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.