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Vyapar Industries swings to profit in fiscal Q1

Vyapar Industries Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 115,630 rupees, compared with a loss of 1.8 million rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 0.3% from negative 6.2% in the year-earlier period.

Total revenue increased 29.4% year over year to 38.4 million rupees from 29.7 million rupees, and total operating expenses increased 20.8% on an annual basis to 41.3 million rupees from 34.2 million rupees.

Reported net income totaled 150,000 rupees, or 1 paise per share, compared to a loss of 11.9 million rupees, or a loss of 1.09 rupees per share, in the year-earlier period.

As of Aug. 12, US$1 was equivalent to 64.75 Indian rupees.