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NTC Industries fiscal Q4 loss narrows YOY

NTC industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 16 Indian paise per share, compared with a loss of 39 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 a loss of 1.8 million rupees, compared with a loss of 4.2 million rupees in the prior-year period.

The normalized profit margin climbed to negative 3.9% from negative 4.6% in the year-earlier period.

Total revenue declined 50.9% year over year to 44.8 million rupees from 91.1 million rupees, and total operating expenses decreased 58.8% on an annual basis to 39.4 million rupees from 95.7 million rupees.

Reported net income came to 2.9 million rupees, or 27 paise per share, compared to a loss of 15.9 million rupees, or a loss of 1.48 rupees per share, in the prior-year period.

For the year, the company's normalized net income totaled 1.02 rupees per share, a fall of 5.4% from 1.08 rupees per share in the prior year.

Normalized net income was 11.0 million rupees, a decline of 5.4% from 11.6 million rupees in the prior year.

Full-year total revenue grew 8.1% on an annual basis to 251.1 million rupees from 232.3 million rupees, and total operating expenses rose 9.2% on an annual basis to 232.8 million rupees from 213.2 million rupees.

The company said reported net income increased 86.2% on an annual basis to 23.3 million rupees, or 2.16 rupees per share, in the full year, from 12.5 million rupees, or 1.16 rupees per share.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.