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Saptarishi Agro Industries fiscal Q4 loss narrows YOY

Saptarishi Agro Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 1 Indian paise per share, compared with a loss of 3 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 a loss of 398,060 rupees, compared with a loss of 880,990 rupees in the prior-year period.

Total revenue totaled 132,640 rupees.

Reported net income totaled a loss of 637,260 rupees, or a loss of 2 paise per share, compared to a loss of 1.5 million rupees, or a loss of 5 paise per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 9 paise per share, compared with a loss of 13 paise per share in the prior year.

Normalized net income was a loss of 3.1 million rupees, compared with a loss of 4.4 million rupees in the prior year.

Full-year total revenue decreased 40.2% on an annual basis to 622,640 rupees from 1.0 million rupees, and total operating expenses fell 32.0% on an annual basis to 5.5 million rupees from 8.1 million rupees.

The company said reported net income came to a loss of 5.1 million rupees, or a loss of 15 paise per share, in the full year, compared with a loss of 7.5 million rupees, or a loss of 22 paise per share, the prior year.

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