Tata Coffee Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 1.30 Indian rupees per share, a decline of 34.5% from 1.98 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 242.2 million rupees, a decline of 34.7% from 370.6 million rupees in the year-earlier period.
The normalized profit margin declined to 2.8% from 7.0% in the year-earlier period.
Total revenue decreased 13.4% on an annual basis to 4.57 billion rupees from 5.27 billion rupees, and total operating expenses decreased 11.9% on an annual basis to 3.88 billion rupees from 4.40 billion rupees.
Reported net income fell 12.6% on an annual basis to 344.6 million rupees, or 1.85 rupees per share, from 394.2 million rupees, or 2.11 rupees per share.
For the year, the company's normalized net income totaled 5.42 rupees per share, a decrease of 9.8% from 6.01 rupees per share in the prior year.
Normalized net income was 1.01 billion rupees, a decline of 9.8% from 1.12 billion rupees in the prior year.
Full-year total revenue rose on an annual basis to 17.64 billion rupees from 16.93 billion rupees, and total operating expenses grew 7.7% on an annual basis to 15.11 billion rupees from 14.03 billion rupees.
The company said reported net income declined on an annual basis to 1.18 billion rupees, or 6.31 rupees per share, in the full year, from 1.20 billion rupees, or 6.45 rupees per share.
As of June 30, US$1 was equivalent to 67.54 Indian rupees.