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Gabriel India fiscal Q4 profit climbs 6.5% YOY

Gabriel India Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 89 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 1.02 rupees per share.

EPS rose 6.3% year over year from 84 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 128.2 million rupees, an increase of 6.5% from 120.4 million rupees in the year-earlier period.

The normalized profit margin rose to 3.7% from 3.6% in the year-earlier period.

Total revenue increased year over year to 3.48 billion rupees from 3.32 billion rupees, and total operating expenses rose on an annual basis to 3.22 billion rupees from 3.09 billion rupees.

Reported net income grew 55.5% on an annual basis to 129.6 million rupees, or 90 paise per share, from 83.3 million rupees, or 58 paise per share.

For the year, the company's normalized net income totaled 3.68 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 5.00 rupees.

EPS rose 39.5% from 2.63 rupees in the prior year.

Normalized net income was 527.9 million rupees, a gain of 39.5% from 378.3 million rupees in the prior year.

Full-year total revenue increased 12.2% from the prior-year period to 14.33 billion rupees from 12.77 billion rupees, and total operating expenses rose 11.0% year over year to 13.44 billion rupees from 12.10 billion rupees.

The company said reported net income grew 40.9% on an annual basis to 600.2 million rupees, or 4.18 rupees per share, in the full year, from 426.0 million rupees, or 2.97 rupees per share.

As of July 7, US$1 was equivalent to 63.55 Indian rupees.