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Uniroyal Marine Exports fiscal Q4 loss narrows YOY

Uniroyal Marine Exports Ltd said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 92 Indian paise per share, compared with a loss of 94 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 6.0 million rupees, compared with a loss of 6.1 million rupees in the prior-year period.

The normalized profit margin climbed to negative 5.3% from negative 6.6% in the year-earlier period.

Total revenue increased 21.2% on an annual basis to 111.8 million rupees from 92.2 million rupees, and total operating expenses rose 18.2% on an annual basis to 116.6 million rupees from 98.6 million rupees.

Reported net income came to a loss of 9.6 million rupees, or a loss of 1.47 rupees per share, compared to a loss of 10.2 million rupees, or a loss of 1.57 rupees per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 1.63 rupees per share, compared with a loss of 81 paise per share in the prior year.

Normalized net income was a loss of 10.5 million rupees, compared with a loss of 5.3 million rupees in the prior year.

Full-year total revenue increased on an annual basis to 383.7 million rupees from 367.2 million rupees, and total operating expenses grew 6.1% on an annual basis to 386.8 million rupees from 364.5 million rupees.

The company said reported net income totaled a loss of 16.9 million rupees, or a loss of 2.61 rupees per share, in the full year, compared with a loss of 8.9 million rupees, or a loss of 1.37 rupees per share, the prior year.

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