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Integra Garments swings to profit in fiscal Q4

Integra Garments & Textiles Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 2 Indian paise per share, compared with a loss of 9 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 613,580 rupees, compared with a loss of 3.3 million rupees in the year-earlier period.

Reported net income totaled 959,460 rupees, or 3 paise per share, compared to a loss of 6.5 million rupees, or a loss of 18 paise per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 30 paise per share, compared with a loss of 45 paise per share in the prior year.

Normalized net income was a loss of 10.8 million rupees, compared with a loss of 16.4 million rupees in the prior year.

The company said reported net income came to a loss of 17.3 million rupees, or a loss of 48 paise per share, in the full year, compared with a loss of 27.4 million rupees, or a loss of 75 paise per share, the prior year.

As of May 27, US$1 was equivalent to 63.93 Indian rupees.