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Asian Star fiscal Q4 profit climbs YOY

Asian Star Company Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was 13.14 Indian rupees per share, a gain of 14.5% from 11.48 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 210.2 million rupees, a gain from 205.8 million rupees in the prior-year period.

The normalized profit margin rose to 2.4% from 2.1% in the year-earlier period.

Total revenue declined 11.6% on an annual basis to 8.73 billion rupees from 9.87 billion rupees, and total operating expenses fell 12.1% on an annual basis to 8.27 billion rupees from 9.41 billion rupees.

Reported net income decreased on an annual basis to 257.9 million rupees, or 16.11 rupees per share, from 261.6 million rupees, or 14.59 rupees per share.

For the year, the company's normalized net income totaled 37.34 rupees per share, compared with 37.53 rupees per share in the prior year.

Normalized net income was 597.7 million rupees, compared with 600.7 million rupees in the prior year.

Full-year total revenue amounted to 32.21 billion rupees, compared with 32.50 billion rupees in the prior year, and total operating expenses totaled 30.94 billion rupees, compared with 31.24 billion rupees in the prior-year period.

The company said reported net income rose 5.1% year over year to 819.6 million rupees, or 51.20 rupees per share, in the full year, from 779.7 million rupees, or 48.71 rupees per share.

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