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Indag Rubber fiscal Q4 profit climbs 33.0% YOY

Indag Rubber Ltd said its normalized net income for the fiscal fourth quarter ended March 31 came to 2.34 Indian rupees per share, an increase of 33.1% from 1.76 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 61.3 million rupees, an increase of 33.0% from 46.1 million rupees in the year-earlier period.

The normalized profit margin increased to 9.3% from 8.3% in the year-earlier period.

Total revenue increased 18.3% year over year to 658.0 million rupees from 556.4 million rupees, and total operating expenses grew 14.4% year over year to 547.8 million rupees from 479.0 million rupees.

Reported net income rose 49.5% from the prior-year period to 94.8 million rupees, or 3.61 rupees per share, from 63.4 million rupees, or 2.42 rupees per share.

For the year, the company's normalized net income totaled 9.61 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 11.30 rupees.

EPS rose 14.0% from 8.43 rupees in the prior year.

Normalized net income was 252.3 million rupees, an increase of 14.0% from 221.4 million rupees in the prior year.

Full-year total revenue increased on an annual basis to 2.42 billion rupees from 2.32 billion rupees, and total operating expenses increased on an annual basis to 2.03 billion rupees from 1.97 billion rupees.

The company said reported net income rose 18.3% year over year to 325.9 million rupees, or 12.41 rupees per share, in the full year, from 275.5 million rupees, or 10.49 rupees per share.

As of July 17, US$1 was equivalent to 63.45 Indian rupees.