Bengal Tea & Fabrics Ltd said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 3.67 Indian rupees per share, compared with a loss of 2.42 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 a loss of 33.1 million rupees, compared with a loss of 21.9 million rupees in the year-earlier period.
The normalized profit margin dropped to negative 5.4% from negative 3.4% in the year-earlier period.
Total revenue decreased 5.8% year over year to 610.7 million rupees from 648.1 million rupees, and total operating expenses declined 6.7% on an annual basis to 629.3 million rupees from 674.2 million rupees.
Reported net income came to a loss of 32.7 million rupees, or a loss of 3.63 rupees per share, compared to a loss of 13.1 million rupees, or a loss of 1.45 rupees per share, in the year-earlier period.
For the year, the company's normalized net income totaled 78 paise per share, a fall of 93.6% from 12.18 rupees per share in the prior year.
Normalized net income was 7.1 million rupees, a decline of 93.6% from 109.7 million rupees in the prior year.
Full-year total revenue declined 11.7% on an annual basis to 2.23 billion rupees from 2.53 billion rupees, and total operating expenses declined 5.2% on an annual basis to 2.17 billion rupees from 2.29 billion rupees.
The company said reported net income decreased 84.5% year over year to 19.4 million rupees, or 2.15 rupees per share, in the full year, from 125.3 million rupees, or 13.91 rupees per share.
As of July 9, US$1 was equivalent to 63.31 Indian rupees.