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Autoline Industries fiscal Q4 loss widens 69.4% YOY

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Autoline Industries fiscal Q4 loss widens 69.4% YOY

Autoline Industries Ltd said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 9.29 Indian rupees per share, compared with a loss of 5.90 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 122.8 million rupees, compared with a loss of 72.5 million rupees in the year-earlier period.

The normalized profit margin declined to negative 14.4% from negative 4.7% in the year-earlier period.

Total revenue decreased 45.0% on an annual basis to 851.6 million rupees from 1.55 billion rupees, and total operating expenses fell 38.6% year over year to 969.0 million rupees from 1.58 billion rupees.

Reported net income totaled a loss of 132.6 million rupees, or a loss of 10.03 rupees per share, compared to a loss of 178.1 million rupees, or a loss of 14.49 rupees per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 32.46 rupees per share, compared with a loss of 16.94 rupees per share in the prior year.

Normalized net income was a loss of 400.1 million rupees, compared with a loss of 209.3 million rupees in the prior year.

Full-year total revenue declined 25.2% on an annual basis to 5.07 billion rupees from 6.77 billion rupees, and total operating expenses decreased 20.6% on an annual basis to 5.39 billion rupees from 6.79 billion rupees.

The company said reported net income came to a loss of 576.8 million rupees, or a loss of 46.78 rupees per share, in the full year, compared with a loss of 397.6 million rupees, or a loss of 32.17 rupees per share, the prior year.

As of Aug. 7, US$1 was equivalent to 63.74 Indian rupees.