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Ambika Cotton Mills fiscal Q4 profit climbs 23.4% YOY

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Ambika Cotton Mills fiscal Q4 profit climbs 23.4% YOY

Ambika Cotton Mills Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was 15.84 Indian rupees per share, a gain of 23.4% from 12.84 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 93.1 million rupees, an increase of 23.4% from 75.4 million rupees in the prior-year period.

The normalized profit margin climbed to 7.6% from 5.9% in the year-earlier period.

Total revenue declined 5.4% on an annual basis to 1.22 billion rupees from 1.29 billion rupees, and total operating expenses totaled 1.03 billion rupees, compared with 1.03 billion rupees in the prior-year period.

Reported net income rose 39.9% from the prior-year period to 142.4 million rupees, or 24.23 rupees per share, from 101.8 million rupees, or 17.33 rupees per share.

For the year, the company's normalized net income totaled 67.83 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 91.15 rupees.

EPS rose 6.9% from 63.46 rupees in the prior year.

Normalized net income was 398.5 million rupees, an increase of 6.9% from 372.8 million rupees in the prior year.

Full-year total revenue rose from the prior-year period to 4.96 billion rupees from 4.77 billion rupees, and total operating expenses increased 7.2% on an annual basis to 4.24 billion rupees from 3.95 billion rupees.

The company said reported net income increased 6.3% on an annual basis to 511.8 million rupees, or 87.11 rupees per share, in the full year, from 481.4 million rupees, or 81.94 rupees per share.

As of Aug. 7, US$1 was equivalent to 63.74 Indian rupees.