Arex Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 71 Indian paise per share, a gain from 32 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 2.8 million rupees, an increase from 1.3 million rupees in the prior-year period.

The normalized profit margin climbed to 3.6% from 1.7% in the year-earlier period.

Total revenue increased year over year to 77.9 million rupees from 74.3 million rupees, and total operating expenses climbed 6.7% on an annual basis to 72.3 million rupees from 67.8 million rupees.

Reported net income rose on an annual basis to 3.1 million rupees, or 79 paise per share, from 1.3 million rupees, or 34 paise per share.

For the year, the company's normalized net income totaled 6.27 rupees per share, a gain of 20.7% from 5.20 rupees per share in the prior year.

Normalized net income was 24.8 million rupees, an increase of 20.7% from 20.6 million rupees in the prior year.

Full-year total revenue rose on an annual basis to 330.4 million rupees from 316.9 million rupees, and total operating expenses grew year over year to 283.5 million rupees from 271.8 million rupees.

The company said reported net income grew 22.3% on an annual basis to 26.9 million rupees, or 6.79 rupees per share, in the full year, from 22.0 million rupees, or 5.55 rupees per share.

As of Aug. 19, US$1 was equivalent to 65.15 Indian rupees.