Sri Lakshmi Saraswathi Textiles (Arni) Ltd said its normalized net income for the fiscal fourth quarter ended March 31 came to 2.15 Indian rupees per share, an increase of 70.5% from 1.26 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.2 million rupees, a gain of 70.5% from 4.2 million rupees in the year-earlier period.

The normalized profit margin climbed to 2.5% from 1.2% in the year-earlier period.

Total revenue decreased 14.6% on an annual basis to 290.2 million rupees from 339.9 million rupees, and total operating expenses declined 17.4% from the prior-year period to 275.4 million rupees from 333.6 million rupees.

Reported net income came to a loss of 9.0 million rupees, or a loss of 2.69 rupees per share, compared to a loss of 10.0 million rupees, or a loss of 2.99 rupees per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 33 paise per share, compared with 6.78 rupees per share in the prior year.

Normalized net income was a loss of 1.1 million rupees, compared with income of 22.6 million rupees in the prior year.

Full-year total revenue decreased 8.4% year over year to 1.15 billion rupees from 1.26 billion rupees, and total operating expenses declined 5.8% on an annual basis to 1.14 billion rupees from 1.22 billion rupees.

The company said reported net income came to a loss of 22.2 million rupees, or a loss of 6.65 rupees per share, in the full year, compared with income of 19.5 million rupees, or 5.84 rupees per share, the prior year.

As of July 9, US$1 was equivalent to 63.31 Indian rupees.