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IFB Agro Industries fiscal Q4 profit climbs 43.9% YOY

IFB Agro Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 2.65 Indian rupees per share, a gain of 39.4% from 1.90 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 24.9 million rupees, an increase of 43.9% from 17.3 million rupees in the prior-year period.

The normalized profit margin rose to 2.2% from 1.5% in the year-earlier period.

Total revenue rose 5.8% on an annual basis to 1.18 billion rupees from 1.12 billion rupees, and total operating expenses increased 5.8% on an annual basis to 1.14 billion rupees from 1.08 billion rupees.

Reported net income decreased 85.9% from the prior-year period to 27.4 million rupees, or 2.92 rupees per share, from 194.2 million rupees, or 21.39 rupees per share.

For the year, the company's normalized net income totaled 15.63 rupees per share, a decline of 38.2% from 25.27 rupees per share in the prior year.

Normalized net income was 146.4 million rupees, a decline of 35.8% from 228.1 million rupees in the prior year.

Full-year total revenue grew 17.4% on an annual basis to 5.95 billion rupees from 5.07 billion rupees, and total operating expenses grew 21.7% year over year to 5.73 billion rupees from 4.71 billion rupees.

The company said reported net income fell 62.6% year over year to 155.7 million rupees, or 16.63 rupees per share, in the full year, from 416.8 million rupees, or 46.19 rupees per share.

As of July 3, US$1 was equivalent to 63.43 Indian rupees.