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Kriti Nutrients fiscal Q4 profit climbs YOY

Kriti Nutrients Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 20 Indian paise per share, an increase from 10 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 9.7 million rupees, a gain from 4.5 million rupees in the year-earlier period.

The normalized profit margin rose to 1.2% from 0.7% in the year-earlier period.

Total revenue rose 15.3% year over year to 780.7 million rupees from 677.2 million rupees, and total operating expenses rose 15.2% from the prior-year period to 769.5 million rupees from 668.0 million rupees.

Reported net income increased year over year to 8.3 million rupees, or 17 paise per share, from 2.8 million rupees, or 6 paise per share.

For the year, the company's normalized net income totaled 1.10 rupees per share, a gain of 57.4% from 70 paise per share in the prior year.

Normalized net income was 54.9 million rupees, an increase of 57.1% from 34.9 million rupees in the prior year.

Full-year total revenue increased 7.6% from the prior-year period to 3.10 billion rupees from 2.88 billion rupees, and total operating expenses grew 7.0% year over year to 2.99 billion rupees from 2.79 billion rupees.

The company said reported net income increased 61.6% on an annual basis to 57.6 million rupees, or 1.15 rupees per share, in the full year, from 35.6 million rupees, or 71 paise per share.

As of Aug. 11, US$1 was equivalent to 64.36 Indian rupees.