Sky Industries Ltd said its normalized net income for the fiscal fourth quarter ended March 31 came to 1.10 Indian rupees per share, a decrease of 43.6% from 1.95 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 4.4 million rupees, a decrease of 43.5% from 7.7 million rupees in the prior-year period.
The normalized profit margin dropped to 1.8% from 5.0% in the year-earlier period.
Total revenue increased 20.5% year over year to 185.4 million rupees from 153.8 million rupees, and total operating expenses rose 40.1% on an annual basis to 180.6 million rupees from 128.9 million rupees.
Reported net income declined 27.6% from the prior-year period to 1.9 million rupees, or 49 paise per share, from 2.7 million rupees, or 67 paise per share.
For the year, the company's normalized net income totaled 1.58 rupees per share, a decline of 55.9% from 3.59 rupees per share in the prior year.
Normalized net income was 6.3 million rupees, a decrease of 55.9% from 14.3 million rupees in the prior year.
Full-year total revenue declined year over year to 649.5 million rupees from 675.6 million rupees, and total operating expenses came to 613.0 million rupees, compared with 615.5 million rupees in the year-earlier period.
The company said reported net income decreased 96.6% on an annual basis to 637,090 rupees, or 16 paise per share, in the full year, from 19.0 million rupees, or 4.77 rupees per share.
As of Aug. 11, US$1 was equivalent to 64.36 Indian rupees.