Orosil Smiths India Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was 312,910 rupees, compared with a loss of 427,970 rupees in the year-earlier period.

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

The normalized profit margin climbed to 3.1% from negative 2.8% in the year-earlier period.

Total revenue decreased 32.6% year over year to 10.2 million rupees from 15.1 million rupees, and total operating expenses decreased 35.4% year over year to 9.0 million rupees from 13.9 million rupees.

Reported net income declined 73.4% from the prior-year period to 1.1 million rupees, or 3 paise per share, from 4.0 million rupees, or 10 paise per share.

For the year, the company's normalized net income totaled a loss of 5 paise per share, compared with a loss of 5 paise per share in the prior year.

Normalized net income was a loss of 2.1 million rupees, compared with a loss of 2.3 million rupees in the prior year.

Full-year total revenue declined 17.6% from the prior-year period to 36.4 million rupees from 44.2 million rupees, and total operating expenses decreased 14.0% on an annual basis to 39.1 million rupees from 45.5 million rupees.

The company said reported net income came to a loss of 2.8 million rupees, or a loss of 7 paise per share, in the full year, compared with income of 1.1 million rupees, or 3 paise per share, the prior year.

As of Aug. 10, US$1 was equivalent to 63.80 Indian rupees.