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Tree House Education & Accessories fiscal Q4 profit climbs 40.8% YOY

Tree House Education & Accessories Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 2.76 Indian rupees per share, a gain of 34.1% from 2.06 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 107.2 million rupees, a gain of 40.8% from 76.1 million rupees in the year-earlier period.

The normalized profit margin rose to 22.0% from 21.3% in the year-earlier period.

Total revenue rose 41.8% year over year to 506.8 million rupees from 357.5 million rupees, and total operating expenses grew 57.3% year over year to 330.9 million rupees from 210.4 million rupees.

Reported net income grew year over year to 171.3 million rupees, or 4.40 rupees per share, from 80.4 million rupees, or 2.17 rupees per share.

For the year, the company's normalized net income totaled 13.25 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 14.85 rupees.

EPS rose 18.8% from 11.15 rupees in the prior year.

Normalized net income was 515.2 million rupees, an increase of 24.6% from 413.5 million rupees in the prior year.

Full-year total revenue increased 31.6% from the prior-year period to 2.07 billion rupees from 1.58 billion rupees, and total operating expenses increased 33.4% year over year to 1.14 billion rupees from 852.3 million rupees.

The company said reported net income rose 38.7% year over year to 608.9 million rupees, or 15.66 rupees per share, in the full year, from 439.1 million rupees, or 11.84 rupees per share.

As of Aug. 20, US$1 was equivalent to 65.50 Indian rupees.