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Rico Auto Industries posts fiscal Q4 profit

Rico Auto Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 63.4 million rupees.

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

The normalized profit margin was 2.5%.

Total revenue totaled 2.53 billion rupees, and total operating expenses totaled 2.40 billion rupees.

Reported net income totaled 69.8 million rupees, or 53 paise per share.

For the year, the company's normalized net income totaled 2.07 rupees per share, compared with a loss of 19.20 rupees per share in the prior year.

Normalized net income was 279.6 million rupees, compared with a loss of 2.60 billion rupees in the prior year.

Full-year total revenue decreased 25.9% on an annual basis to 10.07 billion rupees from 13.59 billion rupees, and total operating expenses declined 45.1% year over year to 9.54 billion rupees from 17.39 billion rupees.

The company said reported net income came to 294.4 million rupees, or 2.18 rupees per share, in the full year, compared with a loss of 1.84 billion rupees, or a loss of 13.60 rupees per share, the prior year.

As of Sept. 7, US$1 was equivalent to 66.40 Indian rupees.