Phoenix Township Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 18 Indian paise per share, a decrease of 58.8% from 44 paise per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.5 million rupees, a decrease of 58.2% from 6.1 million rupees in the prior-year period.
The normalized profit margin declined to 6.3% from 16.1% in the year-earlier period.
Total revenue increased 5.1% year over year to 39.6 million rupees from 37.7 million rupees, and total operating expenses grew 27.5% on an annual basis to 34.4 million rupees from 27.0 million rupees.
Reported net income declined 71.4% year over year to 2.8 million rupees, or 20 paise per share, from 9.7 million rupees, or 71 paise per share.
For the year, the company's normalized net income totaled 25 paise per share, an increase of 25.8% from 20 paise per share in the prior year.
Normalized net income was 3.5 million rupees, a rise of 25.8% from 2.8 million rupees in the prior year.
Full-year total revenue rose 10.6% from the prior-year period to 127.3 million rupees from 115.0 million rupees, and total operating expenses increased 11.7% year over year to 117.7 million rupees from 105.3 million rupees.
The company said reported net income grew 70.4% year over year to 4.3 million rupees, or 31 paise per share, in the full year, from 2.5 million rupees, or 18 paise per share.
As of July 13, US$1 was equivalent to 63.51 Indian rupees.