Kesar Enterprises Ltd. said its normalized net income for the fourth quarter came to a loss of 8.22 Indian rupees per share, compared with a loss of 14.76 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 a loss of 82.5 million rupees, compared with a loss of 144.9 million rupees in the prior-year period.

The normalized profit margin climbed to negative 12.6% from negative 20.6% in the year-earlier period.

Total revenue decreased 6.6% on an annual basis to 655.7 million rupees from 702.1 million rupees, and total operating expenses decreased 16.3% on an annual basis to 707.5 million rupees from 845.8 million rupees.

Reported net income came to a loss of 131.9 million rupees, or a loss of 13.15 rupees per share, compared to a loss of 231.8 million rupees, or a loss of 23.62 rupees per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 32.26 rupees per share, compared with a loss of 35.85 rupees per share in the prior year.

Normalized net income was a loss of 323.7 million rupees, compared with a loss of 341.2 million rupees in the prior year.

Full-year total revenue decreased 21.9% year over year to 2.33 billion rupees from 2.99 billion rupees, and total operating expenses declined 19.9% on an annual basis to 2.52 billion rupees from 3.15 billion rupees.

The company said reported net income came to a loss of 517.9 million rupees, or a loss of 51.62 rupees per share, in the full year, compared with a loss of 552.8 million rupees, or a loss of 58.09 rupees per share, the prior year.

As of Feb. 4, US$1 was equivalent to 67.50 Indian rupees.