Amira Nature Foods Q4 Profit Rises

(RTTNews) - Amira Nature Foods Ltd. (ANFI) Monday reported fourth-quarter profit of $16.8 million or $0.46 per share, up from $8.5 million or $0.24 per share in the same period last year.

Adjusted profit after tax for the latest fourth quarter rose to $16.8 million or $0.47 per share from $8.5 million or $0.24 per share in the prior year period. On average, three analysts polled by Thomson Reuters expected the company to earn $0.33 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased 33.0 percent to $186.6 million from $140.2 million last year. Analysts expected revenues of $162.20 million.

The company said the revenue increase was primarily due to increased pricing and sales volumes in India and internationally. Revenue in the fourth quarter also benefited from the inclusion of Basmati Rice GmbH, which was acquired in January 2014.

Looking ahead, the company continues to expect full year fiscal 2015 revenue of $1 billion. Analysts currently expect full-year revenues of $500.18 million.