Hipolin Ltd said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 49 Indian paise per share, compared with a loss of 42 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 1.5 million rupees, compared with a loss of 1.3 million rupees in the prior-year period.

The normalized profit margin fell to negative 3.7% from negative 1.9% in the year-earlier period.

Total revenue fell 43.7% on an annual basis to 38.5 million rupees from 68.5 million rupees, and total operating expenses fell 46.6% on an annual basis to 35.5 million rupees from 66.5 million rupees.

Reported net income totaled a loss of 1.3 million rupees, or a loss of 43 paise per share, compared to a loss of 1.6 million rupees, or a loss of 51 paise per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 90 paise per share, compared with a loss of 61 paise per share in the prior year.

Normalized net income was a loss of 2.8 million rupees, compared with a loss of 1.9 million rupees in the prior year.

Full-year total revenue fell 27.8% year over year to 204.4 million rupees from 283.1 million rupees, and total operating expenses decreased 26.8% year over year to 206.7 million rupees from 282.4 million rupees.

The company said reported net income came to a loss of 3.4 million rupees, or a loss of 1.09 rupees per share, in the full year, compared with a loss of 2.6 million rupees, or a loss of 83 paise per share, the prior year.

As of May 28, US$1 was equivalent to 63.83 Indian rupees.