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Rane Holdings swings to loss in fiscal Q4


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Rane Holdings swings to loss in fiscal Q4

Rane Holdings Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 1.57 Indian rupees per share, compared with 11.75 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 a loss of 22.4 million rupees, compared with income of 167.8 million rupees in the prior-year period.

The normalized profit margin dropped to negative 0.3% from 2.9% in the year-earlier period.

Total revenue increased 25.4% year over year to 7.15 billion rupees from 5.70 billion rupees, and total operating expenses climbed 32.0% on an annual basis to 6.59 billion rupees from 5.00 billion rupees.

Reported net income declined 12.3% on an annual basis to 282.0 million rupees, or 19.75 rupees per share, from 321.7 million rupees, or 22.53 rupees per share.

For the year, the company's normalized net income totaled 22.84 rupees per share, a fall of 39.3% from 37.63 rupees per share in the prior year.

Normalized net income was 326.1 million rupees, a decrease of 39.3% from 537.2 million rupees in the prior year.

Full-year total revenue grew 14.6% from the prior-year period to 22.26 billion rupees from 19.42 billion rupees, and total operating expenses rose 15.7% on an annual basis to 20.88 billion rupees from 18.05 billion rupees.

The company said reported net income increased 63.3% on an annual basis to 709.5 million rupees, or 49.69 rupees per share, in the full year, from 434.3 million rupees, or 30.42 rupees per share.

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