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Filatex India fiscal Q4 profit climbs YOY

Filatex India Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 2.12 Indian rupees per share, an increase from 91 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 72.3 million rupees, a gain from 28.0 million rupees in the year-earlier period.

The normalized profit margin increased to 2.1% from 1.0% in the year-earlier period.

Total revenue grew 28.5% year over year to 3.51 billion rupees from 2.73 billion rupees, and total operating expenses climbed 28.2% year over year to 3.26 billion rupees from 2.54 billion rupees.

Reported net income rose year over year to 134.9 million rupees, or 3.96 rupees per share, from 29.0 million rupees, or 94 paise per share.

For the year, the company's normalized net income totaled 4.73 rupees per share, an increase of 60.1% from 2.95 rupees per share in the prior year.

Normalized net income was 153.7 million rupees, an increase of 69.5% from 90.7 million rupees in the prior year.

Full-year total revenue declined 18.7% year over year to 12.78 billion rupees from 15.73 billion rupees, and total operating expenses fell 20.0% year over year to 12.08 billion rupees from 15.10 billion rupees.

The company said reported net income rose on an annual basis to 262.1 million rupees, or 8.06 rupees per share, in the full year, from 95.8 million rupees, or 3.12 rupees per share.

As of July 27, US$1 was equivalent to 67.18 Indian rupees.