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Virat Crane Industries fiscal Q4 profit climbs YOY

Virat Crane Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 1.04 Indian rupees per share, an increase from 11 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.2 million rupees, a gain from 2.2 million rupees in the prior-year period.

The normalized profit margin increased to 11.3% from 1.6% in the year-earlier period.

Total revenue rose 38.0% on an annual basis to 187.5 million rupees from 135.8 million rupees, and total operating expenses increased 16.1% on an annual basis to 150.8 million rupees from 129.9 million rupees.

Reported net income increased from the prior-year period to 22.4 million rupees, or 1.10 rupees per share, from 1.7 million rupees, or 8 paise per share.

For the year, the company's normalized net income totaled 2.46 rupees per share, an increase from 67 paise per share in the prior year.

Normalized net income was 50.2 million rupees, a gain from 13.7 million rupees in the prior year.

Full-year total revenue increased 38.0% on an annual basis to 629.9 million rupees from 456.3 million rupees, and total operating expenses increased 25.7% on an annual basis to 544.1 million rupees from 432.7 million rupees.

The company said reported net income increased year over year to 53.8 million rupees, or 2.63 rupees per share, in the full year, from 14.1 million rupees, or 69 paise per share.

As of Aug. 10, US$1 was equivalent to 63.80 Indian rupees.