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Polo Queen swings to profit in fiscal Q4

Polo Queen Industrial And Fintech Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was 4.16 Indian rupees per share, compared with a loss of 82 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.9 million rupees, compared with a loss of 821,880 rupees in the year-earlier period.

The normalized profit margin climbed to 3.9% from negative 1.1% in the year-earlier period.

Total revenue climbed on an annual basis to 203.5 million rupees from 75.9 million rupees, and total operating expenses grew from the prior-year period to 187.4 million rupees from 75.1 million rupees.

Reported net income came to 12.7 million rupees, or 6.69 rupees per share, compared to a loss of 1.5 million rupees, or a loss of 1.47 rupees per share, in the prior-year period.

For the year, the company's normalized net income totaled 1.58 rupees per share, a gain from 1 paise per share in the prior year.

Normalized net income was 3.0 million rupees, a gain from 930,000 rupees in the prior year.

Full-year total revenue totaled 432.6 million rupees, compared with 436.4 million rupees in the prior year, and total operating expenses declined year over year to 415.6 million rupees from 428.0 million rupees.

The company said reported net income increased on an annual basis to 4.9 million rupees, or 2.56 rupees per share, in the full year, from 1.3 million rupees, or 2 paise per share.

As of May 26, US$1 was equivalent to 63.95 Indian rupees.