trending Market Intelligence /marketintelligence/en/news-insights/trending/Bklrn3fgeCFUeeN1kxAj2w2 content esgSubNav
In This List

Mayur Leather Products swings to loss in fiscal Q4


Global Supply Chains - What to Watch in Q2 '23


Perspectivas América Latina 2023 Emerging Trends & Growth


Building Competitive Advantage and Avoiding Pitfalls with Credit Risk Automation


Banking Essentials Newsletter: 22nd March Edition

Mayur Leather Products swings to loss in fiscal Q4

Mayur Leather Products Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 45 Indian paise per share, compared with 34 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 2.2 million rupees, compared with income of 1.6 million rupees in the year-earlier period.

The normalized profit margin declined to negative 2.1% from 1.7% in the year-earlier period.

Total revenue came to 93.7 million rupees, compared with 93.1 million rupees in the year-earlier period, and total operating expenses increased 16.1% year over year to 97.7 million rupees from 84.2 million rupees.

Reported net income totaled a loss of 2.9 million rupees, or a loss of 60 paise per share, compared to income of 2.3 million rupees, or 47 paise per share, in the prior-year period.

For the year, the company's normalized net income totaled 89 paise per share, a decrease of 56.0% from 2.01 rupees per share in the prior year.

Normalized net income was 4.3 million rupees, a decline of 56.0% from 9.7 million rupees in the prior year.

Full-year total revenue increased 21.5% year over year to 280.8 million rupees from 231.0 million rupees, and total operating expenses rose 26.8% year over year to 278.4 million rupees from 219.6 million rupees.

The company said reported net income decreased 53.2% on an annual basis to 4.9 million rupees, or 1.02 rupees per share, in the full year, from 10.5 million rupees, or 2.18 rupees per share.

As of Aug. 10, US$1 was equivalent to 63.80 Indian rupees.