Valson Industries Ltd said its normalized net income for the fiscal fourth quarter ended March 31 came to 58 Indian paise per share, a decrease of 9.0% from 64 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 4.4 million rupees, a decline of 8.5% from 4.9 million rupees in the prior-year period.
The normalized profit margin climbed to 1.9% from 1.9% in the year-earlier period.
Total revenue declined 8.6% on an annual basis to 232.4 million rupees from 254.2 million rupees, and total operating expenses decreased 7.4% year over year to 229.5 million rupees from 247.7 million rupees.
Reported net income grew 78.6% on an annual basis to 11.1 million rupees, or 1.44 rupees per share, from 6.2 million rupees, or 81 paise per share.
For the year, the company's normalized net income totaled 1.98 rupees per share, an increase of 11.5% from 1.78 rupees per share in the prior year.
Normalized net income was 15.2 million rupees, an increase of 11.5% from 13.6 million rupees in the prior year.
Full-year total revenue totaled 1.07 billion rupees, compared with 1.06 billion rupees in the prior year, and total operating expenses grew year over year to 1.04 billion rupees from 1.03 billion rupees.
The company said reported net income rose 38.5% year over year to 21.5 million rupees, or 2.81 rupees per share, in the full year, from 15.5 million rupees, or 2.03 rupees per share.
As of July 13, US$1 was equivalent to 63.51 Indian rupees.