Rishi Techtex Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 50 Indian paise per share, an increase of 16.9% from 43 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 2.7 million rupees, an increase of 16.0% from 2.4 million rupees in the year-earlier period.

The normalized profit margin climbed to 2.1% from 1.8% in the year-earlier period.

Total revenue totaled 131.9 million rupees, compared with 132.5 million rupees in the year-earlier period, and total operating expenses came to 126.1 million rupees, compared with 126.5 million rupees in the prior-year period.

Reported net income fell 12.9% on an annual basis to 5.9 million rupees, or 1.07 rupees per share, from 6.8 million rupees, or 1.22 rupees per share.

For the year, the company's normalized net income totaled 1.32 rupees per share, a gain of 40.4% from 94 paise per share in the prior year.

Normalized net income was 7.3 million rupees, a gain of 40.8% from 5.2 million rupees in the prior year.

Full-year total revenue increased 11.9% on an annual basis to 484.6 million rupees from 433.1 million rupees, and total operating expenses increased 12.4% on an annual basis to 458.8 million rupees from 408.0 million rupees.

The company said reported net income rose on an annual basis to 13.2 million rupees, or 2.39 rupees per share, in the full year, from 12.7 million rupees, or 2.30 rupees per share.

As of July 27, US$1 was equivalent to 64.19 Indian rupees.