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Neha International fiscal Q4 loss narrows YOY

Neha International Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 93,130 rupees, compared with a loss of 4.0 million rupees in the fourth quarter ended June 30, 2014.

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

The normalized profit margin rose to negative 0.0% from negative 0.5% in the year-earlier period.

Total revenue rose 13.1% on an annual basis to 900.2 million rupees from 795.7 million rupees, and total operating expenses climbed 11.9% on an annual basis to 888.7 million rupees from 794.3 million rupees.

Reported net income totaled a loss of 5.6 million rupees, or a loss of 20 paise per share, compared to a loss of 8.0 million rupees, or a loss of 28 paise per share, in the fourth quarter ended June 30, 2014.

For the year, the company's normalized net income totaled 3 paise per share, a decrease of 56.6% from 7 paise per share in the prior year.

Normalized net income was 857,880 rupees, a fall of 65.6% from 2.5 million rupees in the prior year.

Full-year total revenue fell from the prior-year period to 1.68 billion rupees from 1.76 billion rupees, and total operating expenses fell year over year to 1.65 billion rupees from 1.72 billion rupees.

The company said reported net income came to a loss of 3.9 million rupees, or a loss of 14 paise per share, in the full year, compared with a loss of 4.3 million rupees, or a loss of 12 paise per share, the prior year.

As of June 1, US$1 was equivalent to 63.60 Indian rupees.