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Sportking India fiscal Q4 profit climbs YOY

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Sportking India fiscal Q4 profit climbs YOY

Sportking India Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 29.36 Indian rupees per share, an increase from 4.16 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 104.5 million rupees, a gain from 14.8 million rupees in the year-earlier period.

The normalized profit margin climbed to 3.4% from 0.5% in the year-earlier period.

Total revenue declined on an annual basis to 3.08 billion rupees from 3.11 billion rupees, and total operating expenses declined from the prior-year period to 2.73 billion rupees from 2.80 billion rupees.

Reported net income came to 149.9 million rupees, or 42.11 rupees per share, compared to a loss of 131.1 million rupees, or a loss of 36.84 rupees per share, in the prior-year period.

For the year, the company's normalized net income totaled 3.08 rupees per share, a fall of 95.9% from 75.33 rupees per share in the prior year.

Normalized net income was 11.0 million rupees, a decrease of 95.9% from 268.3 million rupees in the prior year.

Full-year total revenue grew 5.8% from the prior-year period to 11.27 billion rupees from 10.65 billion rupees, and total operating expenses grew 13.0% on an annual basis to 10.63 billion rupees from 9.41 billion rupees.

The company said reported net income declined 70.8% on an annual basis to 80.2 million rupees, or 22.54 rupees per share, in the full year, from 274.4 million rupees, or 77.06 rupees per share.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.