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Anjani Synthetics swings to loss in fiscal Q4

Anjani Synthetics Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 93 Indian paise per share, compared with 52 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 a loss of 10.1 million rupees, compared with income of 5.7 million rupees in the year-earlier period.

The normalized profit margin declined to negative 1.1% from 0.8% in the year-earlier period.

Total revenue climbed 23.2% on an annual basis to 898.3 million rupees from 729.1 million rupees, and total operating expenses climbed 27.2% from the prior-year period to 860.2 million rupees from 676.5 million rupees.

Reported net income decreased 70.3% year over year to 1.8 million rupees, or 17 paise per share, from 6.2 million rupees, or 57 paise per share.

For the year, the company's normalized net income totaled 1.98 rupees per share, a decline of 13.3% from 2.28 rupees per share in the prior year.

Normalized net income was 21.4 million rupees, a fall of 13.3% from 24.7 million rupees in the prior year.

Full-year total revenue grew 6.4% year over year to 3.43 billion rupees from 3.23 billion rupees, and total operating expenses grew 7.0% on an annual basis to 3.29 billion rupees from 3.07 billion rupees.

The company said reported net income grew 60.0% year over year to 42.8 million rupees, or 3.96 rupees per share, in the full year, from 26.8 million rupees, or 2.48 rupees per share.

As of Aug. 10, US$1 was equivalent to 63.80 Indian rupees.