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Cheviot fiscal Q4 profit climbs YOY

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Cheviot fiscal Q4 profit climbs YOY

Cheviot Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 13.87 Indian rupees per share, a gain from 3.40 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 62.6 million rupees, a gain from 15.3 million rupees in the prior-year period.

The normalized profit margin increased to 6.8% from 2.2% in the year-earlier period.

Total revenue climbed 31.9% year over year to 916.2 million rupees from 694.7 million rupees, and total operating expenses increased 27.1% from the prior-year period to 812.1 million rupees from 639.1 million rupees.

Reported net income rose from the prior-year period to 154.3 million rupees, or 34.21 rupees per share, from 32.3 million rupees, or 7.16 rupees per share.

For the year, the company's normalized net income totaled 46.58 rupees per share, a decline from 48.55 rupees per share in the prior year.

Normalized net income was 210.1 million rupees, a decline from 219.0 million rupees in the prior year.

Full-year total revenue declined year over year to 2.67 billion rupees from 2.78 billion rupees, and total operating expenses totaled 2.44 billion rupees, compared with 2.47 billion rupees in the prior-year period.

The company said reported net income increased 29.0% on an annual basis to 345.8 million rupees, or 76.65 rupees per share, in the full year, from 268.0 million rupees, or 59.42 rupees per share.

As of May 19, US$1 was equivalent to 63.86 Indian rupees.