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Minda posts fiscal Q4 profit

Minda Corp. Ltd said its normalized net income for the fiscal fourth quarter ended March 31 came to 169.9 million rupees.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 2.7%.

Total revenue totaled 6.40 billion rupees, and total operating expenses totaled 6.00 billion rupees.

Reported net income totaled 264.2 million rupees, or 1.26 rupees per share.

For the year, the company's normalized net income totaled 3.63 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 5.10 rupees.

EPS rose from 3.49 rupees in the prior year.

Normalized net income was 758.9 million rupees, an increase from 731.1 million rupees in the prior year.

Full-year total revenue grew 23.0% year over year to 24.41 billion rupees from 19.84 billion rupees, and total operating expenses rose 24.2% on an annual basis to 22.83 billion rupees from 18.39 billion rupees.

The company said reported net income increased 20.0% year over year to 1.07 billion rupees, or 5.12 rupees per share, in the full year, from 894.2 million rupees, or 4.27 rupees per share.

As of May 27, US$1 was equivalent to 66.96 Indian rupees.