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Shekhawati Poly-Yarn fiscal Q4 profit climbs YOY

Shekhawati Poly-Yarn Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 21 Indian paise per share, an increase from 6 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 46.4 million rupees, an increase from 13.7 million rupees in the year-earlier period.

The normalized profit margin climbed to 4.1% from 1.7% in the year-earlier period.

Total revenue rose 36.9% on an annual basis to 1.12 billion rupees from 817.4 million rupees, and total operating expenses rose 33.5% on an annual basis to 1.01 billion rupees from 758.5 million rupees.

Reported net income grew on an annual basis to 43.7 million rupees, or 19 paise per share, from 13.7 million rupees, or 6 paise per share.

For the year, the company's normalized net income totaled 33 paise per share, an increase of 8.8% from 31 paise per share in the prior year.

Normalized net income was 73.6 million rupees, a rise of 8.8% from 67.7 million rupees in the prior year.

Full-year total revenue totaled 3.54 billion rupees, compared with 3.52 billion rupees in the prior year, and total operating expenses came to 3.31 billion rupees, compared with 3.29 billion rupees in the year-earlier period.

The company said reported net income grew on an annual basis to 72.6 million rupees, or 33 paise per share, in the full year, from 70.4 million rupees, or 32 paise per share.

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