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Shrenuj & Co. fiscal Q4 profit falls YOY

Shrenuj & Company Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was 14 Indian paise per share, a decrease of 86.1% from 1.02 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 27.3 million rupees, a decline of 86.0% from 195.6 million rupees in the prior-year period.

The normalized profit margin fell to 0.3% from 1.6% in the year-earlier period.

Total revenue declined 17.5% year over year to 9.97 billion rupees from 12.08 billion rupees, and total operating expenses declined 16.2% year over year to 9.46 billion rupees from 11.28 billion rupees.

Reported net income decreased 83.2% year over year to 44.8 million rupees, or 23 paise per share, from 266.4 million rupees, or 1.38 rupees per share.

For the year, the company's normalized net income totaled 2.66 rupees per share, a fall of 23.7% from 3.48 rupees per share in the prior year.

Normalized net income was 512.3 million rupees, a fall of 23.7% from 671.1 million rupees in the prior year.

Full-year total revenue increased 18.1% year over year to 54.85 billion rupees from 46.44 billion rupees, and total operating expenses increased 19.7% on an annual basis to 52.40 billion rupees from 43.78 billion rupees.

The company said reported net income decreased 18.3% year over year to 733.0 million rupees, or 3.80 rupees per share, in the full year, from 897.0 million rupees, or 4.65 rupees per share.

As of July 17, US$1 was equivalent to 63.45 Indian rupees.