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Lotus Chocolate fiscal Q4 loss narrows YOY

Lotus Chocolate Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 93,710 rupees, compared with a loss of 7.5 million rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 0.1% from negative 5.0% in the year-earlier period.

Total revenue decreased 9.4% on an annual basis to 137.2 million rupees from 151.4 million rupees, and total operating expenses declined 15.3% year over year to 137.1 million rupees from 161.9 million rupees.

Reported net income came to a loss of 690,270 rupees, or a loss of 6 paise per share, compared to a loss of 11.9 million rupees, or a loss of 93 paise per share, in the prior-year period.

For the year, the company's normalized net income totaled 38 paise per share, compared with a loss of 1.31 rupees per share in the prior year.

Normalized net income was 4.9 million rupees, compared with a loss of 16.9 million rupees in the prior year.

Full-year total revenue increased 9.0% year over year to 613.7 million rupees from 563.3 million rupees, and total operating expenses grew year over year to 605.9 million rupees from 585.9 million rupees.

The company said reported net income totaled 7.1 million rupees, or 55 paise per share, in the full year, compared with a loss of 26.9 million rupees, or a loss of 2.10 rupees per share, the prior year.

As of Aug. 20, US$1 was equivalent to 65.50 Indian rupees.