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Samkrg Pistons & Rings profit misses consensus by 49.5% in fiscal Q4

Samkrg Pistons and Rings Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was 1.83 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 3.63 rupees per share.

EPS decreased 29.2% year over year from 2.59 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.7 million rupees, a decline of 38.1% from 25.4 million rupees in the prior-year period.

The normalized profit margin fell to 3.0% from 4.9% in the year-earlier period.

Total revenue totaled 523.0 million rupees, compared with 522.7 million rupees in the year-earlier period, and total operating expenses came to 483.1 million rupees, compared with 483.0 million rupees in the prior-year period.

Reported net income declined 55.0% from the prior-year period to 14.7 million rupees, or 1.71 rupees per share, from 32.6 million rupees, or 3.32 rupees per share.

For the year, the company's normalized net income totaled 11.46 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 14.68 rupees.

EPS rose 20.2% from 9.53 rupees in the prior year.

Normalized net income was 112.6 million rupees, a gain of 20.2% from 93.7 million rupees in the prior year.

Full-year total revenue grew 13.1% on an annual basis to 2.32 billion rupees from 2.06 billion rupees, and total operating expenses increased 12.9% on an annual basis to 2.10 billion rupees from 1.86 billion rupees.

The company said reported net income rose 14.6% on an annual basis to 123.2 million rupees, or 12.54 rupees per share, in the full year, from 107.5 million rupees, or 10.94 rupees per share.

As of May 25, US$1 was equivalent to 63.59 Indian rupees.