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Menon Bearings fiscal Q4 profit climbs 50.5% YOY

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Menon Bearings fiscal Q4 profit climbs 50.5% YOY

Menon Bearings Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 54 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 57 paise per share.

EPS rose 51.0% year over year from 36 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 30.1 million rupees, a gain of 50.5% from 20.0 million rupees in the prior-year period.

The normalized profit margin rose to 11.1% from 8.3% in the year-earlier period.

Total revenue grew 9.2% year over year to 264.0 million rupees from 241.7 million rupees, and total operating expenses climbed year over year to 211.8 million rupees from 202.9 million rupees.

Reported net income rose 49.0% on an annual basis to 35.5 million rupees, or 63 paise per share, from 23.8 million rupees, or 42 paise per share.

For the year, the company's normalized net income totaled 1.86 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 2.00 rupees.

EPS rose 86.7% from 100 paise in the prior year.

Normalized net income was 104.1 million rupees, a rise of 86.6% from 55.8 million rupees in the prior year.

Full-year total revenue rose 18.8% year over year to 1.03 billion rupees from 865.1 million rupees, and total operating expenses grew 11.5% on an annual basis to 846.7 million rupees from 759.7 million rupees.

The company said reported net income rose 86.9% year over year to 115.4 million rupees, or 2.06 rupees per share, in the full year, from 61.8 million rupees, or 1.10 rupees per share.

As of June 19, US$1 was equivalent to 63.47 Indian rupees.