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Tata Motors profit beats consensus by 26.7% in fiscal Q4

Tata Motors Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 10.86 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 8.57 rupees per share.

EPS increased 26.6% year over year from 8.58 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 36.87 billion rupees, a gain of 26.6% from 29.12 billion rupees in the prior-year period.

The normalized profit margin increased to 5.6% from 3.9% in the year-earlier period.

Total revenue decreased 12.3% on an annual basis to 663.23 billion rupees from 756.35 billion rupees, and total operating expenses declined 10.1% from the prior-year period to 620.99 billion rupees from 690.74 billion rupees.

Reported net income declined 20.8% on an annual basis to 29.63 billion rupees, or 8.72 rupees per share, from 37.42 billion rupees, or 11.02 rupees per share.

For the year, the company's normalized net income totaled 18.70 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 22.14 rupees.

EPS declined from 27.19 rupees in the prior year.

Normalized net income was 63.50 billion rupees, a fall from 91.92 billion rupees in the prior year.

Full-year total revenue declined from the prior-year period to 2.656 trillion rupees from 2.705 trillion rupees, and total operating expenses grew year over year to 2.556 trillion rupees from 2.512 trillion rupees.

The company said reported net income declined year over year to 61.21 billion rupees, or 18.02 rupees per share, in the full year, from 95.88 billion rupees, or 28.37 rupees per share.

As of July 28, US$1 was equivalent to 64.12 Indian rupees.