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Thangamayil Jewellery fiscal Q4 loss narrows YOY

Thangamayil Jewellery Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 2.35 Indian rupees per share, compared with a loss of 13.84 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 a loss of 32.1 million rupees, compared with a loss of 190.0 million rupees in the prior-year period.

The normalized profit margin climbed to negative 1.0% from negative 6.9% in the year-earlier period.

Total revenue increased 22.3% year over year to 3.37 billion rupees from 2.76 billion rupees, and total operating expenses rose 12.7% from the prior-year period to 3.35 billion rupees from 2.98 billion rupees.

Reported net income came to a loss of 36.9 million rupees, or a loss of 2.69 rupees per share, compared to a loss of 204.4 million rupees, or a loss of 14.89 rupees per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 15.02 rupees per share, compared with a loss of 9.37 rupees per share in the prior year.

Normalized net income was a loss of 206.1 million rupees, compared with a loss of 128.5 million rupees in the prior year.

Full-year total revenue grew 19.3% year over year to 14.21 billion rupees from 11.91 billion rupees, and total operating expenses increased 21.0% year over year to 14.26 billion rupees from 11.78 billion rupees.

The company said reported net income totaled a loss of 222.8 million rupees, or a loss of 16.24 rupees per share, in the full year, compared with a loss of 125.7 million rupees, or a loss of 9.16 rupees per share, the prior year.

As of May 25, US$1 was equivalent to 63.59 Indian rupees.