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VST Industries fiscal Q4 profit falls YOY

VST Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 20.52 Indian rupees per share, a decrease of 11.3% from 23.13 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 316.9 million rupees, a decrease of 11.3% from 357.2 million rupees in the prior-year period.

The normalized profit margin declined to 14.5% from 18.9% in the year-earlier period.

Total revenue increased 15.3% year over year to 2.18 billion rupees from 1.89 billion rupees, and total operating expenses increased 26.5% on an annual basis to 1.62 billion rupees from 1.28 billion rupees.

Reported net income decreased 21.6% from the prior-year period to 406.9 million rupees, or 26.34 rupees per share, from 518.9 million rupees, or 33.60 rupees per share.

For the year, the company's normalized net income totaled 88.41 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 95.25 rupees.

EPS rose 7.2% from 82.45 rupees in the prior year.

Normalized net income was 1.37 billion rupees, a rise of 7.2% from 1.27 billion rupees in the prior year.

Full-year total revenue grew 5.8% year over year to 8.30 billion rupees from 7.85 billion rupees, and total operating expenses grew 5.2% on an annual basis to 6.20 billion rupees from 5.89 billion rupees.

The company said reported net income increased on an annual basis to 1.52 billion rupees, or 98.57 rupees per share, in the full year, from 1.50 billion rupees, or 97.24 rupees per share.

As of July 16, US$1 was equivalent to 63.48 Indian rupees.