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Ravalgaon Sugar Farm posts fiscal Q4 loss

The Ravalgaon Sugar Farm Ltd said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 39.6 million rupees.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 113.9%.

Total revenue totaled 34.7 million rupees, and total operating expenses totaled 51.4 million rupees.

Reported net income came to a loss of 152,000 rupees, or a loss of 2.24 rupees per share.

For the year, the company's normalized net income totaled a loss of 1,200.82 rupees per share, compared with a loss of 1,290.10 rupees per share in the prior year.

Normalized net income was a loss of 81.7 million rupees, compared with a loss of 87.7 million rupees in the prior year.

Full-year total revenue increased 46.9% year over year to 352.7 million rupees from 240.0 million rupees, and total operating expenses grew 35.7% on an annual basis to 438.9 million rupees from 323.4 million rupees.

The company said reported net income totaled a loss of 126.6 million rupees, or a loss of 1,862.29 rupees per share, in the full year, compared with a loss of 131.1 million rupees, or a loss of 1,927.56 rupees per share, the prior year.

As of Aug. 18, US$1 was equivalent to 65.44 Indian rupees.