Olympic Oil Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 14.36 Indian rupees per share, a gain of 12.2% from 12.81 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 31.5 million rupees, a decrease of 13.9% from 36.6 million rupees in the prior-year period.

The normalized profit margin fell to 0.5% from 1.0% in the year-earlier period.

Total revenue climbed 78.1% year over year to 6.45 billion rupees from 3.62 billion rupees, and total operating expenses increased 81.7% year over year to 6.25 billion rupees from 3.44 billion rupees.

Reported net income decreased 16.3% from the prior-year period to 29.7 million rupees, or 13.56 rupees per share, from 35.5 million rupees, or 12.44 rupees per share.

For the year, the company's normalized net income totaled 30.68 rupees per share, a gain of 33.9% from 22.91 rupees per share in the prior year.

Normalized net income was 87.6 million rupees, a gain of 33.9% from 65.4 million rupees in the prior year.

Full-year total revenue declined 7.8% year over year to 18.78 billion rupees from 20.37 billion rupees, and total operating expenses decreased 8.3% year over year to 18.44 billion rupees from 20.12 billion rupees.

The company said reported net income grew 36.3% year over year to 92.4 million rupees, or 32.38 rupees per share, in the full year, from 67.8 million rupees, or 23.76 rupees per share.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.