trending Market Intelligence /marketintelligence/en/news-insights/trending/BSADm56rmQs57_U6BPO-yw2 content esgSubNav
In This List

Eastern Silk Industries fiscal Q4 loss narrows YOY

Blog

Expand Your Perspective: Intelligence

Podcast

Next in Tech | Episode 66: Connected vehicles in transition

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices


Eastern Silk Industries fiscal Q4 loss narrows YOY

Eastern Silk Industries Ltd said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 3.65 Indian rupees per share, compared with a loss of 4.20 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 288.5 million rupees, compared with a loss of 330.8 million rupees in the year-earlier period.

The normalized profit margin increased to negative 147.0% from negative 177.2% in the year-earlier period.

Total revenue increased 5.2% year over year to 196.4 million rupees from 186.6 million rupees, and total operating expenses fell 8.0% on an annual basis to 738.3 million rupees from 802.8 million rupees.

Reported net income totaled a loss of 299.5 million rupees, or a loss of 3.79 rupees per share, compared to a loss of 140.7 million rupees, or a loss of 1.79 rupees per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 4.31 rupees per share, compared with a loss of 10.62 rupees per share in the prior year.

Normalized net income was a loss of 340.2 million rupees, compared with a loss of 838.5 million rupees in the prior year.

Full-year total revenue declined 23.4% from the prior-year period to 610.2 million rupees from 796.3 million rupees, and total operating expenses decreased 35.3% on an annual basis to 1.23 billion rupees from 1.90 billion rupees.

The company said reported net income totaled a loss of 382.3 million rupees, or a loss of 4.84 rupees per share, in the full year, compared with a loss of 1.38 billion rupees, or a loss of 17.45 rupees per share, the prior year.

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