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ANS Industries swings to profit in fiscal Q1

ANS Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.0 million rupees, compared with a loss of 2.2 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 9.3% from negative 171.7% in the year-earlier period.

Total revenue rose year over year to 11.0 million rupees from 1.3 million rupees, and total operating expenses grew year over year to 8.6 million rupees from 4.0 million rupees.

Reported net income totaled 1.6 million rupees, or 17 paise per share, compared to a loss of 3.5 million rupees in the year-earlier period.

As of July 31, US$1 was equivalent to 63.88 Indian rupees.