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Rajapalayam Mills posts fiscal Q4 loss

Rajapalayam Mills Ltd said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 18.0 million rupees.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 1.7%.

Total revenue came to 1.06 billion rupees, and total operating expenses totaled 1.04 billion rupees.

Reported net income came to a loss of 30.7 million rupees, or a loss of 4.00 rupees per share.

For the year, the company's normalized net income totaled 7.69 rupees per share, a decline of 77.8% from 34.67 rupees per share in the prior year.

Normalized net income was 56.7 million rupees, a decrease of 77.8% from 255.8 million rupees in the prior year.

Full-year total revenue declined 10.4% from the prior-year period to 3.89 billion rupees from 4.34 billion rupees, and total operating expenses declined on an annual basis to 3.58 billion rupees from 3.71 billion rupees.

The company said reported net income fell 54.8% year over year to 120.4 million rupees, or 16.33 rupees per share, in the full year, from 266.2 million rupees, or 36.09 rupees per share.

As of July 10, US$1 was equivalent to 63.32 Indian rupees.