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Samtex Fashions fiscal Q4 profit climbs YOY

Samtex Fashions Ltd said its normalized net income for the fiscal fourth quarter ended March 31 came to 96 Indian paise per share, a gain from 35 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 71.6 million rupees, an increase from 26.0 million rupees in the prior-year period.

The normalized profit margin increased to 1.3% from 0.4% in the year-earlier period.

Total revenue declined 13.5% on an annual basis to 5.55 billion rupees from 6.42 billion rupees, and total operating expenses fell 11.4% from the prior-year period to 5.38 billion rupees from 6.08 billion rupees.

Reported net income increased on an annual basis to 69.6 million rupees, or 93 paise per share, from 2.0 million rupees, or 3 paise per share.

For the year, the company's normalized net income totaled 3.48 rupees per share, a gain of 13.6% from 3.06 rupees per share in the prior year.

Normalized net income was 259.5 million rupees, an increase of 13.6% from 228.3 million rupees in the prior year.

Full-year total revenue decreased from the prior-year period to 18.70 billion rupees from 19.42 billion rupees, and total operating expenses fell on an annual basis to 17.72 billion rupees from 18.41 billion rupees.

The company said reported net income increased 18.1% year over year to 306.8 million rupees, or 4.12 rupees per share, in the full year, from 259.9 million rupees, or 3.49 rupees per share.

As of Aug. 11, US$1 was equivalent to 64.36 Indian rupees.