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Jaipan Industries fiscal Q4 loss widens 10.2% YOY

Jaipan Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 7 Indian paise per share, compared with a loss of 6 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 389,140 rupees, compared with a loss of 353,040 rupees in the year-earlier period.

The normalized profit margin fell to negative 0.7% from negative 0.2% in the year-earlier period.

Total revenue decreased 63.4% on an annual basis to 55.8 million rupees from 152.4 million rupees, and total operating expenses declined 62.0% on an annual basis to 57.8 million rupees from 152.3 million rupees.

Reported net income came to a loss of 1.1 million rupees, or a loss of 18 paise per share, compared to a loss of 925,350 rupees, or a loss of 16 paise per share, in the year-earlier period.

For the year, the company's normalized net income totaled 15 paise per share, a fall of 12.5% from 17 paise per share in the prior year.

Normalized net income was 890,860 rupees, a decrease of 13.1% from 1.0 million rupees in the prior year.

Full-year total revenue decreased 26.8% on an annual basis to 293.0 million rupees from 400.1 million rupees, and total operating expenses declined 26.8% on an annual basis to 287.6 million rupees from 393.1 million rupees.

The company said reported net income declined 24.4% on an annual basis to 968,400 rupees, or 16 paise per share, in the full year, from 1.3 million rupees, or 21 paise per share.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.