Menon Pistons Ltd said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 14 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 20 paise per share.

In the prior-year period, the per-share result came in at a profit of 14 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.4 million rupees, compared with 7.3 million rupees in the prior-year period.

The normalized profit margin dropped to 2.0% from 2.0% in the year-earlier period.

Total revenue increased on an annual basis to 375.3 million rupees from 365.7 million rupees, and total operating expenses increased year over year to 364.3 million rupees from 358.1 million rupees.

Reported net income rose from the prior-year period to 11.2 million rupees, or 22 paise per share, from 4.4 million rupees, or 9 paise per share.

For the year, the company's normalized net income totaled 98 paise per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.10 rupees.

EPS rose from 40 paise in the prior year.

Normalized net income was 49.9 million rupees, an increase from 20.2 million rupees in the prior year.

Full-year total revenue increased from the prior-year period to 1.45 billion rupees from 1.43 billion rupees, and total operating expenses fell on an annual basis to 1.34 billion rupees from 1.37 billion rupees.

The company said reported net income rose on an annual basis to 57.2 million rupees, or 1.12 rupees per share, in the full year, from 18.2 million rupees, or 36 paise per share.

As of July 9, US$1 was equivalent to 63.31 Indian rupees.