LT Foods Ltd said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 66 Indian paise per share, a decrease of 20.9% from 83 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 174.5 million rupees, a decline of 21.3% from 221.6 million rupees in the prior-year period.

The normalized profit margin dropped to 2.4% from 2.9% in the year-earlier period.

Total revenue declined 8.6% year over year to 7.07 billion rupees from 7.73 billion rupees, and total operating expenses totaled 6.73 billion rupees, compared with 6.76 billion rupees in the prior-year period.

Reported net income increased 6.3% year over year to 216.4 million rupees, or 82 paise per share, from 203.6 million rupees, or 76 paise per share.

For the year, the company's normalized net income totaled 2.45 rupees per share, a decrease of 15.4% from 2.89 rupees per share in the prior year.

Normalized net income was 651.8 million rupees, a decline of 15.1% from 768.0 million rupees in the prior year.

Full-year total revenue grew 10.5% on an annual basis to 27.35 billion rupees from 24.74 billion rupees, and total operating expenses grew 13.9% year over year to 25.14 billion rupees from 22.06 billion rupees.

The company said reported net income decreased 7.5% on an annual basis to 724.8 million rupees, or 2.72 rupees per share, in the full year, from 783.2 million rupees, or 2.95 rupees per share.

As of May 27, US$1 was equivalent to 63.93 Indian rupees.