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Inditex fiscal Q1 profit climbs 29.1% YOY

Industria de Diseño Textil S.A. said its normalized net income for the fiscal first quarter ended April 30 came to 14 euro cents per share, compared with the S&P Capital IQ consensus estimate of 16 cents per share.

EPS increased 29.2% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €426.8 million, a gain of 29.1% from €330.5 million in the year-earlier period.

The normalized profit margin climbed to 9.8% from 8.8% in the year-earlier period.

Total revenue climbed 16.7% year over year to €4.37 billion from €3.75 billion, and total operating expenses rose 15.3% from the prior-year period to €3.71 billion from €3.22 billion.

Reported net income grew 28.3% on an annual basis to €521.0 million, or 17 cents per share, from €406.0 million, or 13 cents per share.