Poona Dal & Oil Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 17 Indian paise per share, compared with 40 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 982,600 rupees, compared with income of 2.3 million rupees in the prior-year period.
The normalized profit margin fell to negative 0.3% from 0.4% in the year-earlier period.
Total revenue decreased 39.2% on an annual basis to 361.2 million rupees from 594.2 million rupees, and total operating expenses declined 39.1% from the prior-year period to 358.1 million rupees from 588.0 million rupees.
Reported net income totaled a loss of 3.8 million rupees, or a loss of 67 paise per share, compared to income of 1.4 million rupees, or 24 paise per share, in the prior-year period.
For the year, the company's normalized net income totaled 1.62 rupees per share, a fall of 38.7% from 2.65 rupees per share in the prior year.
Normalized net income was 9.2 million rupees, a decline of 38.9% from 15.1 million rupees in the prior year.
Full-year total revenue fell 33.5% year over year to 1.86 billion rupees from 2.80 billion rupees, and total operating expenses declined 33.5% on an annual basis to 1.84 billion rupees from 2.77 billion rupees.
The company said reported net income declined 53.5% on an annual basis to 7.5 million rupees, or 1.31 rupees per share, in the full year, from 16.1 million rupees, or 2.81 rupees per share.
As of Aug. 7, US$1 was equivalent to 63.74 Indian rupees.