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Bharat Seats fiscal Q4 profit climbs 39.2% YOY

Bharat Seats Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was 70 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 72 paise per share.

EPS rose 39.3% year over year from 50 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 22.0 million rupees, an increase of 39.2% from 15.8 million rupees in the prior-year period.

The normalized profit margin increased to 1.2% from 1.0% in the year-earlier period.

Total revenue rose 22.9% on an annual basis to 1.91 billion rupees from 1.56 billion rupees, and total operating expenses climbed 23.1% from the prior-year period to 1.86 billion rupees from 1.51 billion rupees.

Reported net income grew 43.6% on an annual basis to 24.8 million rupees, or 79 paise per share, from 17.3 million rupees, or 55 paise per share.

For the year, the company's normalized net income totaled 2.29 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 2.54 rupees.

EPS rose 26.8% from 1.81 rupees in the prior year.

Normalized net income was 72.0 million rupees, a gain of 26.8% from 56.8 million rupees in the prior year.

Full-year total revenue increased 23.9% from the prior-year period to 6.94 billion rupees from 5.60 billion rupees, and total operating expenses grew 24.4% year over year to 6.78 billion rupees from 5.45 billion rupees.

The company said reported net income increased 21.1% on an annual basis to 81.2 million rupees, or 2.59 rupees per share, in the full year, from 67.1 million rupees, or 2.14 rupees per share.

As of June 18, US$1 was equivalent to 63.75 Indian rupees.