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Wheels India fiscal Q4 profit climbs YOY

Wheels India Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 11.98 Indian rupees per share, an increase from 3.75 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 144.1 million rupees, a gain from 45.1 million rupees in the prior-year period.

The normalized profit margin rose to 2.7% from 0.9% in the year-earlier period.

Total revenue climbed 7.5% year over year to 5.37 billion rupees from 4.99 billion rupees, and total operating expenses climbed 5.3% on an annual basis to 5.01 billion rupees from 4.75 billion rupees.

Reported net income increased on an annual basis to 181.1 million rupees, or 15.05 rupees per share, from 67.6 million rupees, or 5.62 rupees per share.

For the year, the company's normalized net income totaled 29.61 rupees per share, an increase of 40.1% from 21.13 rupees per share in the prior year.

Normalized net income was 356.3 million rupees, a rise of 40.2% from 254.2 million rupees in the prior year.

Full-year total revenue increased from the prior-year period to 20.16 billion rupees from 19.80 billion rupees, and total operating expenses increased on an annual basis to 19.04 billion rupees from 18.81 billion rupees.

The company said reported net income increased 38.3% year over year to 411.3 million rupees, or 34.18 rupees per share, in the full year, from 297.4 million rupees, or 24.72 rupees per share.

As of July 15, US$1 was equivalent to 67.08 Indian rupees.