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Venky's (India) Ltd. fiscal Q4 profit climbs YOY

Venky's (India) Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was 11.58 Indian rupees per share, a gain from 5.76 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 163.2 million rupees, a gain from 81.1 million rupees in the year-earlier period.

The normalized profit margin rose to 3.6% from 1.7% in the year-earlier period.

Total revenue grew 21.6% on an annual basis to 5.90 billion rupees from 4.85 billion rupees, and total operating expenses increased 20.2% from the prior-year period to 5.53 billion rupees from 4.60 billion rupees.

Reported net income increased 55.6% on an annual basis to 161.5 million rupees, or 11.46 rupees per share, from 103.8 million rupees, or 7.37 rupees per share.

For the year, the company's normalized net income totaled 20.44 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 21.20 rupees.

EPS rose 94.5% from 10.51 rupees in the prior year.

Normalized net income was 288.0 million rupees, a gain of 94.4% from 148.1 million rupees in the prior year.

Full-year total revenue rose 22.6% year over year to 21.22 billion rupees from 17.31 billion rupees, and total operating expenses grew 21.9% year over year to 20.26 billion rupees from 16.63 billion rupees.

The company said reported net income grew 59.7% on an annual basis to 298.5 million rupees, or 21.19 rupees per share, in the full year, from 187.0 million rupees, or 13.27 rupees per share.

As of Oct. 4, US$1 was equivalent to 66.48 Indian rupees.