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Dhanlaxmi Fabrics fiscal Q4 profit falls YOY

Dhanlaxmi Fabrics Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 1.86 Indian rupees per share, a decrease from 1.90 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.8 million rupees, a decrease from 16.4 million rupees in the year-earlier period.

The normalized profit margin dropped to 4.2% from 4.8% in the year-earlier period.

Total revenue grew 9.2% on an annual basis to 372.7 million rupees from 341.3 million rupees, and total operating expenses increased 10.6% from the prior-year period to 338.5 million rupees from 306.1 million rupees.

Reported net income increased year over year to 18.2 million rupees, or 2.14 rupees per share, from 4.2 million rupees, or 49 paise per share.

For the year, the company's normalized net income totaled 2.12 rupees per share, a decline of 31.3% from 3.09 rupees per share in the prior year.

Normalized net income was 18.2 million rupees, a decrease of 31.3% from 26.5 million rupees in the prior year.

Full-year total revenue rose 19.5% from the prior-year period to 989.7 million rupees from 828.2 million rupees, and total operating expenses rose 21.3% year over year to 934.7 million rupees from 770.5 million rupees.

The company said reported net income rose 8.0% on an annual basis to 22.0 million rupees, or 2.57 rupees per share, in the full year, from 20.4 million rupees, or 2.38 rupees per share.

As of May 27, US$1 was equivalent to 63.93 Indian rupees.