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Alfa Ica (India) fiscal Q4 profit falls YOY

Alfa Ica (India) Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 5 Indian paise per share, a decrease of 88.6% from 42 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 248,170 rupees, a decline of 85.5% from 1.7 million rupees in the prior-year period.

The normalized profit margin dropped to 0.2% from 1.5% in the year-earlier period.

Total revenue fell 12.1% on an annual basis to 100.5 million rupees from 114.3 million rupees, and total operating expenses fell 13.0% from the prior-year period to 95.0 million rupees from 109.2 million rupees.

Reported net income fell 97.8% year over year to 51,900 rupees, or 1 paise per share, from 2.4 million rupees, or 58 paise per share.

For the year, the company's normalized net income totaled 2.34 rupees per share, an increase of 49.2% from 1.57 rupees per share in the prior year.

Normalized net income was 9.5 million rupees, an increase of 49.2% from 6.4 million rupees in the prior year.

Full-year total revenue decreased on an annual basis to 570.6 million rupees from 578.4 million rupees, and total operating expenses declined year over year to 538.5 million rupees from 557.0 million rupees.

The company said reported net income rose 49.4% on an annual basis to 10.6 million rupees, or 2.63 rupees per share, in the full year, from 7.1 million rupees, or 1.76 rupees per share.

As of July 24, US$1 was equivalent to 64.11 Indian rupees.