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Tarai Foods fiscal Q4 loss widens 35.4% YOY

Tarai Foods Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 5 Indian paise per share, compared with a loss of 4 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 687,000 rupees, compared with a loss of 507,250 rupees in the prior-year period.

The normalized profit margin declined to negative 16.3% from negative 9.6% in the year-earlier period.

Total revenue fell 19.8% on an annual basis to 4.2 million rupees from 5.3 million rupees, and total operating expenses decreased 13.7% on an annual basis to 5.2 million rupees from 6.0 million rupees.

Reported net income came to 107.3 million rupees, or 7.48 rupees per share, compared to a loss of 811,600 rupees, or a loss of 6 paise per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 27 paise per share, compared with a loss of 25 paise per share in the prior year.

Normalized net income was a loss of 3.9 million rupees, compared with a loss of 3.6 million rupees in the prior year.

Full-year total revenue grew 7.5% year over year to 21.0 million rupees from 19.5 million rupees, and total operating expenses increased 7.4% year over year to 27.1 million rupees from 25.2 million rupees.

The company said reported net income came to 101.2 million rupees, or 7.06 rupees per share, in the full year, compared with a loss of 5.7 million rupees, or a loss of 40 paise per share, the prior year.

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