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Sundaram Brake Linings fiscal Q4 loss widens 65.4% YOY

Sundaram Brake Linings Ltd said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 4.48 Indian rupees per share, compared with a loss of 2.71 rupees 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 17.6 million rupees, compared with a loss of 10.6 million rupees in the year-earlier period.

The normalized profit margin declined to negative 3.2% from negative 1.6% in the year-earlier period.

Total revenue fell 16.5% year over year to 557.5 million rupees from 667.4 million rupees, and total operating expenses declined 17.0% year over year to 580.3 million rupees from 699.5 million rupees.

Reported net income came to a loss of 84.4 million rupees, or a loss of 21.44 rupees per share, compared to a loss of 36.4 million rupees, or a loss of 9.26 rupees per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 14.18 rupees per share, compared with a loss of 5.21 rupees per share in the prior year.

Normalized net income was a loss of 55.8 million rupees, compared with a loss of 20.5 million rupees in the prior year.

Full-year total revenue declined from the prior-year period to 2.37 billion rupees from 2.47 billion rupees, and total operating expenses fell on an annual basis to 2.43 billion rupees from 2.49 billion rupees.

The company said reported net income came to a loss of 145.5 million rupees, or a loss of 36.97 rupees per share, in the full year, compared with a loss of 52.2 million rupees, or a loss of 13.26 rupees per share, the prior year.

As of July 1, US$1 was equivalent to 63.64 Indian rupees.