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AK Spintex fiscal Q4 loss widens YOY

4912287 said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 59 Indian paise per share, compared with a loss of 7 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 3.0 million rupees, compared with a loss of 343,070 rupees in the year-earlier period.

The normalized profit margin fell to negative 2.5% from negative 0.3% in the year-earlier period.

Total revenue increased 10.6% on an annual basis to 118.8 million rupees from 107.4 million rupees, and total operating expenses rose 14.4% on an annual basis to 119.9 million rupees from 104.8 million rupees.

Reported net income came to a loss of 4.8 million rupees, or a loss of 95 paise per share, compared to a loss of 299,530 rupees, or a loss of 6 paise per share, in the prior-year period.

For the year, the company's normalized net income totaled 40 paise per share, a fall of 37.0% from 63 paise per share in the prior year.

Normalized net income was 2.0 million rupees, a fall of 36.3% from 3.2 million rupees in the prior year.

Full-year total revenue grew 11.7% year over year to 441.9 million rupees from 395.6 million rupees, and total operating expenses grew 13.2% on an annual basis to 424.0 million rupees from 374.6 million rupees.

he company said reported net income fell 71.4% year ove A.K. Spintex Ltd.