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Goodricke Group Q4 profit climbs YOY

Goodricke Group Ltd. said its normalized net income for the fourth quarter amounted to 6.39 Indian rupees per share, an increase from 6.21 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 138.0 million rupees, a gain from 133.9 million rupees in the year-earlier period.

The normalized profit margin declined to 4.6% from 5.0% in the year-earlier period.

Total revenue increased 12.5% year over year to 3.01 billion rupees from 2.67 billion rupees, and total operating expenses climbed 16.6% from the prior-year period to 2.79 billion rupees from 2.40 billion rupees.

Reported net income rose 31.0% on an annual basis to 220.8 million rupees, or 10.22 rupees per share, from 168.6 million rupees, or 7.82 rupees per share.

For the year, the company's normalized net income totaled 5.95 rupees per share, a fall of 23.3% from 7.76 rupees per share in the prior year.

Normalized net income was 128.4 million rupees, a decline of 23.3% from 167.5 million rupees in the prior year.

Full-year total revenue increased 8.8% from the prior-year period to 6.61 billion rupees from 6.08 billion rupees, and total operating expenses increased 11.6% on an annual basis to 6.47 billion rupees from 5.80 billion rupees.

The company said reported net income rose on an annual basis to 503.1 million rupees, or 23.29 rupees per share, in the full year, from 222.4 million rupees, or 10.30 rupees per share.

As of Feb. 11, US$1 was equivalent to 68.37 Indian rupees.