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Triveni Engineering & Industries fiscal Q4 loss widens 55.5% YOY

Triveni Engineering & Industries Ltd said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 1.65 Indian rupees per share, compared with a loss of 1.07 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 426.7 million rupees, compared with a loss of 274.4 million rupees in the prior-year period.

The normalized profit margin dropped to negative 9.5% from negative 6.0% in the year-earlier period.

Total revenue came to 4.57 billion rupees, compared with 4.55 billion rupees in the prior-year period, and total operating expenses came to 4.86 billion rupees, compared with 4.81 billion rupees in the year-earlier period.

Reported net income came to a loss of 857.2 million rupees, or a loss of 3.32 rupees per share, compared to a loss of 595.2 million rupees, or a loss of 2.31 rupees per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 4.11 rupees per share, compared with a loss of 2.89 rupees per share in the prior year.

Normalized net income was a loss of 1.06 billion rupees, compared with a loss of 747.1 million rupees in the prior year.

Full-year total revenue grew from the prior-year period to 20.68 billion rupees from 19.96 billion rupees, and total operating expenses grew 6.9% year over year to 21.35 billion rupees from 19.96 billion rupees.

The company said reported net income totaled a loss of 1.52 billion rupees, or a loss of 5.90 rupees per share, in the full year, compared with a loss of 1.27 billion rupees, or a loss of 4.92 rupees per share, the prior year.

As of May 27, US$1 was equivalent to 63.93 Indian rupees.