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James Warren Tea posts fiscal Q4 loss

James Warren Tea Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 192.6 million rupees.

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

The normalized profit margin was 114.0%.

Total revenue totaled 169.0 million rupees, and total operating expenses totaled 471.6 million rupees.

Reported net income totaled a loss of 223.7 million rupees, or a loss of 18.64 rupees per share.

For the year, the company's normalized net income totaled 1.79 rupees per share, a decrease of 86.6% from 13.43 rupees per share in the prior year.

Normalized net income was 21.5 million rupees, a decline of 86.6% from 161.1 million rupees in the prior year.

Full-year total revenue declined 5.6% year over year to 1.34 billion rupees from 1.42 billion rupees, and total operating expenses grew 11.9% on an annual basis to 1.33 billion rupees from 1.19 billion rupees.

The company said reported net income decreased 75.0% on an annual basis to 50.7 million rupees, or 4.23 rupees per share, in the full year, from 202.9 million rupees, or 16.91 rupees per share.

As of July 8, US$1 was equivalent to 63.52 Indian rupees.