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Cox & Kings fiscal Q4 profit climbs YOY

Cox & Kings Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 10.51 Indian rupees per share, an increase from 3.40 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.78 billion rupees, a gain from 828.8 million rupees in the year-earlier period.

The normalized profit margin declined to 3.1% from 16.7% in the year-earlier period.

Total revenue decreased 5.2% on an annual basis to 4.71 billion rupees from 4.97 billion rupees, and total operating expenses came to 4.68 billion rupees, compared with 4.70 billion rupees in the year-earlier period.

Reported net income totaled a loss of 3.06 billion rupees, or a loss of 18.05 rupees per share, compared to income of 717.8 million rupees, or 2.94 rupees per share, in the year-earlier period.

For the year, the company's normalized net income totaled 20.79 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 15.55 rupees.

EPS declined 5.5% from 21.99 rupees in the prior year.

Normalized net income was 3.67 billion rupees, a gain of 7.8% from 3.41 billion rupees in the prior year.

Full-year total revenue declined 8.5% on an annual basis to 23.52 billion rupees from 25.69 billion rupees, and total operating expenses declined year over year to 16.82 billion rupees from 17.56 billion rupees.

The company said reported net income fell 41.3% year over year to 538.6 million rupees, or 3.05 rupees per share, in the full year, from 917.0 million rupees, or 5.92 rupees per share.

As of Sept. 2, US$1 was equivalent to 66.64 Indian rupees.