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Asahi Industries fiscal Q4 loss widens YOY

Asahi Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 21 Indian paise per share, compared with a loss of 9 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 14.0 million rupees, compared with a loss of 5.6 million rupees in the prior-year period.

The normalized profit margin climbed to negative 0.6% from negative 0.8% in the year-earlier period.

Total revenue increased on an annual basis to 2.51 billion rupees from 697.3 million rupees, and total operating expenses rose on an annual basis to 2.53 billion rupees from 702.7 million rupees.

Reported net income came to a loss of 5.4 million rupees, or a loss of 8 paise per share, compared to income of 3.4 million rupees, or 5 paise per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 13 paise per share, compared with a loss of 1 paise per share in the prior year.

Normalized net income was a loss of 8.4 million rupees, compared with a loss of 871,250 rupees in the prior year.

Full-year total revenue grew on an annual basis to 5.29 billion rupees from 2.59 billion rupees, and total operating expenses increased 105.1% year over year to 5.29 billion rupees from 2.58 billion rupees.

The company said reported net income decreased 79.5% year over year to 1.9 million rupees, or 3 paise per share, in the full year, from 9.4 million rupees, or 14 paise per share.

As of Aug. 5, US$1 was equivalent to 63.80 Indian rupees.