Golkunda Diamonds & Jewellery Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 1.46 Indian rupees per share, a decline of 32.1% from 2.15 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 10.2 million rupees, a decrease of 31.7% from 14.9 million rupees in the year-earlier period.

The normalized profit margin climbed to 4.2% from 4.0% in the year-earlier period.

Total revenue decreased 34.6% on an annual basis to 240.8 million rupees from 368.3 million rupees, and total operating expenses declined 37.1% on an annual basis to 213.1 million rupees from 339.0 million rupees.

Reported net income declined 27.9% from the prior-year period to 9.5 million rupees, or 1.37 rupees per share, from 13.2 million rupees, or 1.91 rupees per share.

For the year, the company's normalized net income totaled 2.86 rupees per share, a decrease of 59.6% from 7.09 rupees per share in the prior year.

Normalized net income was 19.9 million rupees, a decline of 59.6% from 49.4 million rupees in the prior year.

Full-year total revenue decreased 22.0% on an annual basis to 934.9 million rupees from 1.20 billion rupees, and total operating expenses fell 20.6% on an annual basis to 864.6 million rupees from 1.09 billion rupees.

The company said reported net income decreased 60.2% on an annual basis to 20.1 million rupees, or 2.89 rupees per share, in the full year, from 50.5 million rupees, or 7.25 rupees per share.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.