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First Winner Industries fiscal Q4 loss narrows YOY

First Winner Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 46 Indian paise per share, compared with a loss of 98 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 a loss of 23.0 million rupees, compared with a loss of 49.1 million rupees in the year-earlier period.

Total revenue totaled 4.6 million rupees.

Reported net income came to a loss of 60.5 million rupees, or a loss of 1.21 rupees per share, compared to a loss of 48.6 million rupees, or a loss of 97 paise per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 3.85 rupees per share, compared with a loss of 3.64 rupees per share in the prior year.

Normalized net income was a loss of 193.5 million rupees, compared with a loss of 182.9 million rupees in the prior year.

Full-year total revenue decreased 97.7% on an annual basis to 4.6 million rupees from 202.7 million rupees, and total operating expenses decreased 61.0% year over year to 116.3 million rupees from 298.0 million rupees.

The company said reported net income totaled a loss of 333.4 million rupees, or a loss of 6.64 rupees per share, in the full year, compared with a loss of 262.8 million rupees, or a loss of 5.23 rupees per share, the prior year.

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