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Innodis fiscal Q4 profit climbs 89.0% YOY

Innodis Ltd. said its normalized net income for the fiscal fourth quarter ended June 30 was 92 Mauritian cents per share, a gain of 89.0% from 48 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 33.7 million rupees, an increase of 89.0% from 17.8 million rupees in the prior-year period.

The normalized profit margin increased to 3.9% from 1.7% in the year-earlier period.

Total revenue declined 17.7% on an annual basis to 867.8 million rupees from 1.05 billion rupees, and total operating expenses fell 18.1% on an annual basis to 821.9 million rupees from 1.00 billion rupees.

Reported net income rose 73.1% year over year to 57.0 million rupees, or 1.55 rupees per share, from 32.9 million rupees, or 90 cents per share.

For the year, the company's normalized net income totaled 2.51 rupees per share, an increase of 11.4% from 2.25 rupees per share in the prior year.

Normalized net income was 92.1 million rupees, a rise of 11.4% from 82.7 million rupees in the prior year.

Full-year total revenue amounted to 4.29 billion rupees, compared with 4.29 billion rupees in the prior year, and total operating expenses came to 4.06 billion rupees, compared with 4.07 billion rupees in the prior-year period.

The company said reported net income decreased year over year to 112.6 million rupees, or 3.07 rupees per share, in the full year, from 116.6 million rupees, or 3.18 rupees per share.

As of Dec. 2, US$1 was equivalent to 35.93 Mauritian rupees.