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Cantil Retail India swings to profit in fiscal Q4

Cantabil Retail India Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 31 Indian paise per share, compared with a loss of 49 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.1 million rupees, compared with a loss of 8.0 million rupees in the prior-year period.

The normalized profit margin increased to 1.3% from negative 2.2% in the year-earlier period.

Total revenue increased 7.9% year over year to 383.8 million rupees from 355.8 million rupees, and total operating expenses climbed on an annual basis to 364.0 million rupees from 350.9 million rupees.

Reported net income came to 9.0 million rupees, or 55 paise per share, compared to a loss of 12.4 million rupees, or a loss of 76 paise per share, in the year-earlier period.

For the year, the company's normalized net income totaled 1.22 rupees per share, compared with a loss of 3.45 rupees per share in the prior year.

Normalized net income was 19.8 million rupees, compared with a loss of 56.4 million rupees in the prior year.

Full-year total revenue grew 24.6% from the prior-year period to 1.39 billion rupees from 1.11 billion rupees, and total operating expenses increased 13.5% on an annual basis to 1.31 billion rupees from 1.15 billion rupees.

The company said reported net income totaled 28.9 million rupees, or 1.77 rupees per share, in the full year, compared with a loss of 91.0 million rupees, or a loss of 5.58 rupees per share, the prior year.

As of July 15, US$1 was equivalent to 63.50 Indian rupees.