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Bombay Dyeing & Manufacturing fiscal Q4 profit falls YOY

Bombay Dyeing & Manufacturing Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 5.60 Indian rupees per share, a decline of 14.4% from 6.55 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.16 billion rupees, a decrease of 14.2% from 1.35 billion rupees in the prior-year period.

The normalized profit margin increased to 14.4% from 11.5% in the year-earlier period.

Total revenue declined 31.5% year over year to 8.05 billion rupees from 11.75 billion rupees, and total operating expenses fell 38.3% year over year to 5.09 billion rupees from 8.26 billion rupees.

Reported net income declined 15.8% on an annual basis to 1.74 billion rupees, or 8.43 rupees per share, from 2.07 billion rupees, or 10.04 rupees per share.

For the year, the company's normalized net income totaled 95 paise per share, a decline of 5.5% from 1.01 rupees per share in the prior year.

Normalized net income was 196.8 million rupees, a decrease of 5.5% from 208.4 million rupees in the prior year.

Full-year total revenue declined 10.2% year over year to 23.86 billion rupees from 26.56 billion rupees, and total operating expenses decreased 11.5% year over year to 21.06 billion rupees from 23.81 billion rupees.

The company said reported net income decreased 16.1% year over year to 204.5 million rupees, or 99 paise per share, in the full year, from 243.7 million rupees, or 1.18 rupees per share.

As of July 10, US$1 was equivalent to 63.32 Indian rupees.