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Kewal Kiran Clothing fiscal Q4 profit climbs 31.0% YOY

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Kewal Kiran Clothing fiscal Q4 profit climbs 31.0% YOY

Kewal Kiran Clothing Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 13.26 Indian rupees per share, an increase of 30.9% from 10.13 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 163.4 million rupees, an increase of 31.0% from 124.7 million rupees in the year-earlier period.

The normalized profit margin climbed to 15.3% from 13.7% in the year-earlier period.

Total revenue rose 18.0% on an annual basis to 1.07 billion rupees from 907.7 million rupees, and total operating expenses grew 18.1% on an annual basis to 797.6 million rupees from 675.5 million rupees.

Reported net income rose on an annual basis to 214.0 million rupees, or 17.37 rupees per share, from 207.0 million rupees, or 16.81 rupees per share.

For the year, the company's normalized net income totaled 47.55 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 50.35 rupees.

EPS rose 5.2% from 45.20 rupees in the prior year.

Normalized net income was 586.1 million rupees, a rise of 5.2% from 557.0 million rupees in the prior year.

Full-year total revenue grew 11.4% on an annual basis to 4.08 billion rupees from 3.67 billion rupees, and total operating expenses rose 14.0% on an annual basis to 3.15 billion rupees from 2.77 billion rupees.

The company said reported net income fell year over year to 662.4 million rupees, or 53.75 rupees per share, in the full year, from 670.3 million rupees, or 54.38 rupees per share.

As of July 23, US$1 was equivalent to 63.86 Indian rupees.