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Everlon Synthetics fiscal Q4 profit climbs YOY

Everlon Synthetics Ltd said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 47 Indian paise per share, a gain from 10 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 1.5 million rupees, a gain from 291,480 rupees in the prior-year period.

The normalized profit margin climbed to 1.8% from 0.2% in the year-earlier period.

Total revenue decreased 34.2% year over year to 79.2 million rupees from 120.4 million rupees, and total operating expenses declined 36.4% from the prior-year period to 75.3 million rupees from 118.4 million rupees.

Reported net income totaled 2.1 million rupees, or 67 paise per share, compared to a loss of 258,050 rupees, or a loss of 9 paise per share, in the year-earlier period.

For the year, the company's normalized net income totaled 18 paise per share, a decrease of 72.8% from 67 paise per share in the prior year.

Normalized net income was 553,760 rupees, a fall of 72.8% from 2.0 million rupees in the prior year.

Full-year total revenue fell 23.2% year over year to 410.3 million rupees from 534.0 million rupees, and total operating expenses declined 23.4% year over year to 402.1 million rupees from 524.6 million rupees.

The company said reported net income fell 76.1% year over year to 607,410 rupees, or 20 paise per share, in the full year, from 2.5 million rupees, or 84 paise per share.

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