Shree Rang Mark Travels Ltd said its normalized net income for the fiscal fourth quarter ended March 31 came to 1 Indian paise per share, a decline of 92.2% from 15 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 79,240 rupees, a decline of 92.5% from 1.1 million rupees in the prior-year period.

The normalized profit margin dropped to 3.5% from 79.2% in the year-earlier period.

Total revenue totaled 2.3 million rupees, and total operating expenses came to 2.2 million rupees.

Reported net income declined 92.0% from the prior-year period to 126,780 rupees, or 2 paise per share, from 1.6 million rupees, or 23 paise per share.

For the year, the company's normalized net income totaled 4 paise per share, an increase of 51.6% from 3 paise per share in the prior year.

Normalized net income was 433,380 rupees, an increase from 190,660 rupees in the prior year.

Full-year total revenue rose from the prior-year period to 7.6 million rupees from 2.5 million rupees, and total operating expenses increased 235.2% on an annual basis to 6.9 million rupees from 2.0 million rupees.

The company said reported net income rose on an annual basis to 693,400 rupees, or 7 paise per share, in the full year, from 204,150 rupees, or 3 paise per share.

As of May 29, US$1 was equivalent to 63.76 Indian rupees.