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Motherson Sumi Systems profit misses consensus by 30.9% in fiscal Q4

Motherson Sumi Systems Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 1.66 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 2.40 rupees per share.

EPS increased 24.9% year over year from 1.33 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.50 billion rupees, an increase of 32.8% from 2.63 billion rupees in the prior-year period.

The normalized profit margin increased to 3.0% from 2.8% in the year-earlier period.

Total revenue rose 25.5% on an annual basis to 116.09 billion rupees from 92.51 billion rupees, and total operating expenses climbed 22.6% year over year to 105.60 billion rupees from 86.15 billion rupees.

Reported net income increased 9.7% year over year to 4.74 billion rupees, or 2.25 rupees per share, from 4.32 billion rupees, or 2.18 rupees per share.

For the year, the company's normalized net income totaled 6.39 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 7.99 rupees.

EPS rose from 5.24 rupees in the prior year.

Normalized net income was 13.11 billion rupees, a gain from 10.40 billion rupees in the prior year.

Full-year total revenue grew on an annual basis to 424.93 billion rupees from 372.16 billion rupees, and total operating expenses increased on an annual basis to 392.20 billion rupees from 345.46 billion rupees.

The company said reported net income rose on an annual basis to 15.54 billion rupees, or 7.58 rupees per share, in the full year, from 12.92 billion rupees, or 6.51 rupees per share.

As of July 27, US$1 was equivalent to 64.14 Indian rupees.