Avanti Feeds Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 6.13 Indian rupees per share, a gain of 31.4% from 4.67 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 282.2 million rupees, an increase of 30.3% from 216.5 million rupees in the year-earlier period.

The normalized profit margin increased to 6.0% from 5.6% in the year-earlier period.

Total revenue increased 21.5% on an annual basis to 4.69 billion rupees from 3.86 billion rupees, and total operating expenses rose 20.5% on an annual basis to 4.24 billion rupees from 3.52 billion rupees.

Reported net income grew 40.2% on an annual basis to 312.3 million rupees, or 6.78 rupees per share, from 222.7 million rupees, or 4.80 rupees per share.

For the year, the company's normalized net income totaled 31.70 rupees per share, an increase of 29.3% from 24.52 rupees per share in the prior year.

Normalized net income was 1.44 billion rupees, an increase of 29.3% from 1.11 billion rupees in the prior year.

Full-year total revenue increased 13.3% year over year to 20.18 billion rupees from 17.81 billion rupees, and total operating expenses rose 11.8% on an annual basis to 17.99 billion rupees from 16.08 billion rupees.

The company said reported net income grew 35.9% on an annual basis to 1.57 billion rupees, or 34.68 rupees per share, in the full year, from 1.16 billion rupees, or 25.52 rupees per share.

As of July 20, US$1 was equivalent to 67.16 Indian rupees.