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Hind Syntex posts fiscal Q4 loss

Hind Syntex Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 1.9 million rupees.

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

The normalized profit margin was 2.1%.

Total revenue totaled 88.9 million rupees, and total operating expenses came to 86.1 million rupees.

Reported net income totaled 494,560 rupees, or 4 paise per share.

For the year, the company's normalized net income totaled a loss of 8 paise per share, compared with 14.75 rupees per share in the prior year.

Normalized net income was a loss of 997,410 rupees, compared with income of 187.6 million rupees in the prior year.

Full-year total revenue declined 18.0% from the prior-year period to 382.6 million rupees from 466.9 million rupees, and total operating expenses declined 26.3% on an annual basis to 386.9 million rupees from 524.9 million rupees.

The company said reported net income declined 99.4% on an annual basis to 1.9 million rupees, or 15 paise per share, in the full year, from 305.9 million rupees, or 24.04 rupees per share.

As of May 29, US$1 was equivalent to 63.76 Indian rupees.