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Britannia Industries profit misses consensus by 18.3% in fiscal Q4

Britannia Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 10.09 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 12.36 rupees per share.

EPS increased 37.7% year over year from 7.33 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.21 billion rupees, a gain of 37.8% from 878.6 million rupees in the year-earlier period.

The normalized profit margin increased to 5.9% from 4.9% in the year-earlier period.

Total revenue climbed 14.5% year over year to 20.44 billion rupees from 17.85 billion rupees, and total operating expenses rose 12.1% from the prior-year period to 18.35 billion rupees from 16.37 billion rupees.

Reported net income increased 55.3% year over year to 1.67 billion rupees, or 13.94 rupees per share, from 1.08 billion rupees, or 8.98 rupees per share.

For the year, the company's normalized net income totaled 39.96 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 47.42 rupees.

EPS rose 38.4% from 28.88 rupees in the prior year.

Normalized net income was 4.79 billion rupees, an increase of 38.5% from 3.46 billion rupees in the prior year.

Full-year total revenue increased 13.9% on an annual basis to 77.88 billion rupees from 68.37 billion rupees, and total operating expenses rose 12.2% on an annual basis to 70.62 billion rupees from 62.92 billion rupees.

The company said reported net income rose 74.2% year over year to 6.89 billion rupees, or 57.41 rupees per share, in the full year, from 3.95 billion rupees, or 33.00 rupees per share.

As of May 21, US$1 was equivalent to 63.55 Indian rupees.