trending Market Intelligence /marketintelligence/en/news-insights/trending/GIKdabjUJwbMHbLMWukXNQ2 content esgSubNav
In This List

Suryajyoti Spinning Mills swings to loss in fiscal Q4

Blog

Global M&A By the Numbers: Q3 2021

Blog

Capital Markets Activity Infographic: SPAC Volume Rises in Q3; Equity Issuance Drops but Remains Strong in Several Sectors

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure

Case Study

Honing Sustainable Investing Strategies with Robust Environmental Data


Suryajyoti Spinning Mills swings to loss in fiscal Q4

Suryajyoti Spinning Mills Ltd said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 2.51 Indian rupees per share, compared with 64 paise 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 49.4 million rupees, compared with income of 12.6 million rupees in the prior-year period.

The normalized profit margin declined to negative 4.8% from 1.1% in the year-earlier period.

Total revenue declined 11.2% year over year to 1.04 billion rupees from 1.17 billion rupees, and total operating expenses totaled 989.0 million rupees, compared with 991.8 million rupees in the year-earlier period.

Reported net income came to a loss of 28.0 million rupees, or a loss of 1.42 rupees per share, compared to a loss of 55.7 million rupees, or a loss of 2.83 rupees per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 4.39 rupees per share, compared with a loss of 1.43 rupees per share in the prior year.

Normalized net income was a loss of 86.4 million rupees, compared with a loss of 28.1 million rupees in the prior year.

Full-year total revenue decreased 10.8% year over year to 4.19 billion rupees from 4.69 billion rupees, and total operating expenses decreased 10.1% on an annual basis to 3.89 billion rupees from 4.32 billion rupees.

The company said reported net income came to a loss of 87.1 million rupees, or a loss of 4.43 rupees per share, in the full year, compared with a loss of 120.8 million rupees, or a loss of 6.15 rupees per share, the prior year.

As of Aug. 11, US$1 was equivalent to 64.36 Indian rupees.