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Asahi India Glass fiscal Q4 profit climbs YOY

Asahi India Glass Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 1.20 Indian rupees per share, an increase from 29 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 291.5 million rupees, an increase from 71.4 million rupees in the prior-year period.

The normalized profit margin increased to 5.1% from 1.4% in the year-earlier period.

Total revenue grew 9.3% on an annual basis to 5.75 billion rupees from 5.26 billion rupees, and total operating expenses increased 5.6% year over year to 4.93 billion rupees from 4.66 billion rupees.

Reported net income increased 26.6% year over year to 236.4 million rupees, or 97 paise per share, from 186.8 million rupees, or 76 paise per share.

For the year, the company's normalized net income totaled 3.84 rupees per share, a gain from 1.22 rupees per share in the prior year.

Normalized net income was 932.7 million rupees, an increase from 296.0 million rupees in the prior year.

Full-year total revenue increased 5.3% on an annual basis to 22.09 billion rupees from 20.99 billion rupees, and total operating expenses came to 18.90 billion rupees, compared with 18.84 billion rupees in the year-earlier period.

The company said reported net income increased year over year to 869.5 million rupees, or 3.58 rupees per share, in the full year, from 420.2 million rupees, or 1.73 rupees per share.

As of July 18, US$1 was equivalent to 67.16 Indian rupees.