Ponni Sugars (Erode) Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 4.19 Indian rupees per share, compared with 5.62 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 36.1 million rupees, compared with income of 48.3 million rupees in the year-earlier period.
The normalized profit margin dropped to negative 16.5% from 14.2% in the year-earlier period.
Total revenue decreased 38.1% year over year to 210.5 million rupees from 340.0 million rupees, and total operating expenses rose from the prior-year period to 260.7 million rupees from 251.4 million rupees.
Reported net income fell 58.1% from the prior-year period to 27.6 million rupees, or 3.21 rupees per share, from 65.9 million rupees, or 7.66 rupees per share.
For the year, the company's normalized net income totaled a loss of 10.44 rupees per share, compared with a loss of 5.97 rupees per share in the prior year.
Normalized net income was a loss of 89.8 million rupees, compared with a loss of 51.4 million rupees in the prior year.
Full-year total revenue decreased 5.9% on an annual basis to 1.58 billion rupees from 1.68 billion rupees, and total operating expenses decreased year over year to 1.69 billion rupees from 1.72 billion rupees.
The company said reported net income totaled a loss of 36.5 million rupees, or a loss of 4.24 rupees per share, in the full year, compared with a loss of 47.8 million rupees, or a loss of 5.56 rupees per share, the prior year.
As of June 25, US$1 was equivalent to 63.52 Indian rupees.