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Eskay K'n'IT (India) fiscal Q4 loss widens YOY

Eskay K'n'IT (India) Ltd said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 3.42 Indian rupees per share, compared with a loss of 1.44 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 959.3 million rupees, compared with a loss of 406.1 million rupees in the year-earlier period.

The normalized profit margin fell to negative 67.9% from negative 31.0% in the year-earlier period.

Total revenue grew 7.9% on an annual basis to 1.41 billion rupees from 1.31 billion rupees, and total operating expenses increased 56.0% on an annual basis to 2.85 billion rupees from 1.83 billion rupees.

Reported net income totaled a loss of 1.49 billion rupees, or a loss of 5.31 rupees per share, compared to a loss of 651.8 million rupees, or a loss of 2.31 rupees per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 5.43 rupees per share, compared with a loss of 3.30 rupees per share in the prior year.

Normalized net income was a loss of 1.53 billion rupees, compared with a loss of 927.4 million rupees in the prior year.

Full-year total revenue fell 15.4% on an annual basis to 4.35 billion rupees from 5.14 billion rupees, and total operating expenses grew year over year to 6.32 billion rupees from 6.11 billion rupees.

The company said reported net income came to a loss of 2.40 billion rupees, or a loss of 8.53 rupees per share, in the full year, compared with a loss of 1.49 billion rupees, or a loss of 5.29 rupees per share, the prior year.

As of Aug. 5, US$1 was equivalent to 63.80 Indian rupees.