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Vippy Spinpro profit holds mostly steady YOY in fiscal Q4

Vippy Spinpro Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 1.66 Indian rupees per share, compared with 1.66 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 9.7 million rupees, compared with 9.8 million rupees in the year-earlier period.

The normalized profit margin increased to 4.4% from 3.8% in the year-earlier period.

Total revenue declined 13.4% year over year to 220.9 million rupees from 255.0 million rupees, and total operating expenses declined 13.5% year over year to 201.3 million rupees from 232.8 million rupees.

Reported net income totaled 10.1 million rupees, or 1.72 rupees per share, compared to 10.1 million rupees, or 1.73 rupees per share, in the year-earlier period.

For the year, the company's normalized net income totaled 5.07 rupees per share, a gain from 4.95 rupees per share in the prior year.

Normalized net income was 29.8 million rupees, an increase from 29.1 million rupees in the prior year.

Full-year total revenue declined 5.2% from the prior-year period to 949.6 million rupees from 1.00 billion rupees, and total operating expenses decreased 5.3% on an annual basis to 893.0 million rupees from 942.9 million rupees.

The company said reported net income increased on an annual basis to 32.5 million rupees, or 5.54 rupees per share, in the full year, from 31.8 million rupees, or 5.42 rupees per share.

As of May 25, US$1 was equivalent to 63.59 Indian rupees.