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Competent Automobiles profit misses consensus by 19.1% in fiscal Q4

Competent Automobiles Company Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was 4.38 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 5.41 rupees per share.

EPS rose 30.6% year over year from 3.35 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.9 million rupees, an increase of 30.6% from 20.6 million rupees in the year-earlier period.

The normalized profit margin fell to 1.1% from 1.2% in the year-earlier period.

Total revenue grew 45.7% year over year to 2.55 billion rupees from 1.75 billion rupees, and total operating expenses increased 46.1% year over year to 2.48 billion rupees from 1.70 billion rupees.

Reported net income increased 44.7% from the prior-year period to 37.6 million rupees, or 6.12 rupees per share, from 26.0 million rupees, or 4.23 rupees per share.

For the year, the company's normalized net income totaled 16.32 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 17.59 rupees.

EPS rose 23.1% from 13.26 rupees in the prior year.

Normalized net income was 100.3 million rupees, a gain of 23.1% from 81.5 million rupees in the prior year.

Full-year total revenue rose 14.4% year over year to 9.26 billion rupees from 8.09 billion rupees, and total operating expenses grew 14.3% year over year to 9.05 billion rupees from 7.91 billion rupees.

The company said reported net income grew 26.5% on an annual basis to 116.1 million rupees, or 18.89 rupees per share, in the full year, from 91.8 million rupees, or 14.93 rupees per share.

As of June 29, US$1 was equivalent to 63.73 Indian rupees.