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Triton Valves profit misses consensus by 65.0% in fiscal Q4

Triton Valves Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 7.02 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 20.08 rupees per share.

EPS fell 13.2% year over year from 8.08 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.9 million rupees, a decrease of 13.2% from 8.0 million rupees in the prior-year period.

The normalized profit margin dropped to 1.8% from 1.9% in the year-earlier period.

Total revenue decreased 8.7% year over year to 394.7 million rupees from 432.4 million rupees, and total operating expenses fell on an annual basis to 368.4 million rupees from 385.3 million rupees.

Reported net income increased 73.4% from the prior-year period to 20.8 million rupees, or 20.99 rupees per share, from 12.0 million rupees, or 12.11 rupees per share.

For the year, the company's normalized net income totaled 61.61 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 73.91 rupees.

EPS rose from 24.94 rupees in the prior year.

Normalized net income was 61.0 million rupees, an increase from 24.7 million rupees in the prior year.

Full-year total revenue grew 5.5% from the prior-year period to 1.70 billion rupees from 1.61 billion rupees, and total operating expenses increased year over year to 1.53 billion rupees from 1.48 billion rupees.

The company said reported net income increased year over year to 74.1 million rupees, or 74.82 rupees per share, in the full year, from 29.1 million rupees, or 29.36 rupees per share.

As of July 8, US$1 was equivalent to 63.52 Indian rupees.