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Machino Plastics fiscal Q4 profit falls YOY

Machino Plastics Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was 4.06 Indian rupees per share, a decline of 12.3% from 4.63 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 24.9 million rupees, a decrease of 12.3% from 28.4 million rupees in the prior-year period.

The normalized profit margin declined to 4.3% from 5.8% in the year-earlier period.

Total revenue climbed 18.2% on an annual basis to 574.2 million rupees from 485.8 million rupees, and total operating expenses rose 22.7% from the prior-year period to 522.7 million rupees from 425.9 million rupees.

Reported net income fell 30.0% from the prior-year period to 44.3 million rupees, or 7.22 rupees per share, from 63.3 million rupees, or 10.32 rupees per share.

For the year, the company's normalized net income totaled 1.90 rupees per share, compared with a loss of 4.28 rupees per share in the prior year.

Normalized net income was 11.7 million rupees, compared with a loss of 26.3 million rupees in the prior year.

Full-year total revenue rose 18.1% from the prior-year period to 1.96 billion rupees from 1.66 billion rupees, and total operating expenses rose 14.2% on an annual basis to 1.89 billion rupees from 1.66 billion rupees.

The company said reported net income totaled 23.2 million rupees, or 3.77 rupees per share, in the full year, compared with a loss of 24.1 million rupees, or a loss of 3.93 rupees per share, the prior year.

As of July 13, US$1 was equivalent to 63.51 Indian rupees.