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Khator Fibre & Fabrics swings to loss in fiscal Q4


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Khator Fibre & Fabrics swings to loss in fiscal Q4

Khator Fibre & Fabrics Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 18 Indian paise per share, compared with 65 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 759,590 rupees, compared with income of 2.8 million rupees in the prior-year period.

The normalized profit margin declined to negative 0.5% from 1.7% in the year-earlier period.

Total revenue declined 6.3% year over year to 154.7 million rupees from 165.1 million rupees, and total operating expenses decreased 5.7% on an annual basis to 148.9 million rupees from 157.9 million rupees.

Reported net income totaled a loss of 3.6 million rupees, or a loss of 85 paise per share, compared to a loss of 209,010 rupees, or a loss of 5 paise per share, in the year-earlier period.

For the year, the company's normalized net income totaled 1.13 rupees per share, a fall of 48.5% from 2.20 rupees per share in the prior year.

Normalized net income was 4.8 million rupees, a decrease of 48.5% from 9.3 million rupees in the prior year.

Full-year total revenue increased 16.6% year over year to 541.8 million rupees from 464.8 million rupees, and total operating expenses increased 18.4% on an annual basis to 515.3 million rupees from 435.3 million rupees.

The company said reported net income declined 48.5% year over year to 5.3 million rupees, or 1.25 rupees per share, in the full year, from 10.3 million rupees, or 2.43 rupees per share.

As of May 29, US$1 was equivalent to 63.76 Indian rupees.