Dhampur Sugar Mills Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 4.51 Indian rupees per share, a decrease of 16.2% from 5.39 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 266.5 million rupees, a decline of 18.6% from 327.6 million rupees in the year-earlier period.

The normalized profit margin declined to 5.7% from 7.2% in the year-earlier period.

Total revenue climbed on an annual basis to 4.64 billion rupees from 4.53 billion rupees, and total operating expenses increased on an annual basis to 3.85 billion rupees from 3.74 billion rupees.

Reported net income increased 52.2% from the prior-year period to 735.8 million rupees, or 12.46 rupees per share, from 483.6 million rupees, or 7.95 rupees per share.

For the year, the company's normalized net income totaled a loss of 5.84 rupees per share, compared with a loss of 8.99 rupees per share in the prior year.

Normalized net income was a loss of 333.9 million rupees, compared with a loss of 514.1 million rupees in the prior year.

Full-year total revenue decreased on an annual basis to 17.90 billion rupees from 18.23 billion rupees, and total operating expenses decreased year over year to 17.00 billion rupees from 17.68 billion rupees.

The company said reported net income came to a loss of 145.4 million rupees, or a loss of 2.54 rupees per share, in the full year, compared with a loss of 803.3 million rupees, or a loss of 14.04 rupees per share, the prior year.

As of Aug. 19, US$1 was equivalent to 65.15 Indian rupees.