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STL Global swings to profit in fiscal Q4

STL Global Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 39 Indian paise per share, compared with a loss of 1.78 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.7 million rupees, compared with a loss of 48.0 million rupees in the prior-year period.

The normalized profit margin rose to negative 3.2% from negative 26.1% in the year-earlier period.

Total revenue rose 48.7% on an annual basis to 273.5 million rupees from 183.9 million rupees, and total operating expenses grew from the prior-year period to 211.5 million rupees from 201.6 million rupees.

Reported net income totaled 18.0 million rupees, or 67 paise per share, compared to a loss of 82.5 million rupees, or a loss of 3.06 rupees per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 6.99 rupees per share, compared with a loss of 6.56 rupees per share in the prior year.

Normalized net income was a loss of 188.6 million rupees, compared with a loss of 176.9 million rupees in the prior year.

Full-year total revenue increased 9.9% from the prior-year period to 789.1 million rupees from 717.8 million rupees, and total operating expenses rose 10.3% year over year to 852.8 million rupees from 772.8 million rupees.

The company said reported net income totaled a loss of 300.8 million rupees, or a loss of 11.15 rupees per share, in the full year, compared with a loss of 288.8 million rupees, or a loss of 10.70 rupees per share, the prior year.

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