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Nahar Industrial Enterprises swings to profit in fiscal Q4

Nahar Industrial Enterprises Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 4.03 Indian rupees per share, compared with a loss of 1.91 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 160.5 million rupees, compared with a loss of 76.3 million rupees in the year-earlier period.

The normalized profit margin rose to 3.2% from negative 1.7% in the year-earlier period.

Total revenue rose 11.4% year over year to 4.95 billion rupees from 4.45 billion rupees, and total operating expenses increased on an annual basis to 4.46 billion rupees from 4.26 billion rupees.

Reported net income totaled 204.0 million rupees, or 5.12 rupees per share, compared to a loss of 35.2 million rupees, or a loss of 88 paise per share, in the year-earlier period.

For the year, the company's normalized net income totaled 8.21 rupees per share, compared with a loss of 5.49 rupees per share in the prior year.

Normalized net income was 326.9 million rupees, compared with a loss of 218.5 million rupees in the prior year.

Full-year total revenue fell year over year to 17.76 billion rupees from 18.03 billion rupees, and total operating expenses decreased 5.3% on an annual basis to 16.47 billion rupees from 17.39 billion rupees.

The company said reported net income totaled 393.2 million rupees, or 9.87 rupees per share, in the full year, compared with a loss of 277.7 million rupees, or a loss of 6.97 rupees per share, the prior year.

As of Sept. 2, US$1 was equivalent to 66.64 Indian rupees.