Neelamalai Agro Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 15 Indian paise per share, a decline of 95.3% from 3.16 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 93,280 rupees, a decrease of 95.2% from 2.0 million rupees in the prior-year period.

The normalized profit margin increased to 45.7% from 2.4% in the year-earlier period.

Total revenue grew 8.9% on an annual basis to 89.7 million rupees from 82.4 million rupees, and total operating expenses climbed on an annual basis to 102.5 million rupees from 99.5 million rupees.

Reported net income totaled a loss of 1.3 million rupees, or a loss of 2.12 rupees per share, compared to a loss of 229,250 rupees, or a loss of 37 paise per share, in the prior-year period.

For the year, the company's normalized net income totaled 59.56 rupees per share, a gain of 8.2% from 55.05 rupees per share in the prior year.

Normalized net income was 37.4 million rupees, a rise of 8.2% from 34.5 million rupees in the prior year.

Full-year total revenue grew 6.6% from the prior-year period to 299.2 million rupees from 280.6 million rupees, and total operating expenses grew 5.5% on an annual basis to 289.8 million rupees from 274.8 million rupees.

The company said reported net income increased 12.0% year over year to 53.3 million rupees, or 84.96 rupees per share, in the full year, from 47.6 million rupees, or 75.87 rupees per share.

As of May 27, US$1 was equivalent to 63.93 Indian rupees.