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Maris Spinners fiscal Q4 profit climbs YOY

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Maris Spinners fiscal Q4 profit climbs YOY

Maris Spinners Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 1.22 Indian rupees per share, an increase from 8 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 10.0 million rupees, a gain from 663,750 rupees in the year-earlier period.

The normalized profit margin rose to 3.2% from 0.2% in the year-earlier period.

Total revenue climbed on an annual basis to 309.3 million rupees from 300.5 million rupees, and total operating expenses totaled 282.8 million rupees, compared with 282.6 million rupees in the year-earlier period.

Reported net income totaled 4.0 million rupees, or 49 paise per share, compared to a loss of 21.9 million rupees, or a loss of 2.68 rupees per share, in the year-earlier period.

For the year, the company's normalized net income totaled 3.80 rupees per share, a decline of 36.4% from 5.98 rupees per share in the prior year.

Normalized net income was 31.1 million rupees, a decline of 36.3% from 48.8 million rupees in the prior year.

Full-year total revenue rose from the prior-year period to 1.22 billion rupees from 1.19 billion rupees, and total operating expenses rose 6.7% year over year to 1.11 billion rupees from 1.04 billion rupees.

The company said reported net income decreased 18.0% year over year to 33.1 million rupees, or 4.05 rupees per share, in the full year, from 40.4 million rupees, or 4.95 rupees per share.

As of May 29, US$1 was equivalent to 63.76 Indian rupees.