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Himachal Fibres swings to profit in fiscal Q2

Himachal Fibres Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 222,500 rupees, compared with a loss of 267,500 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 0.2% from negative 0.4% in the year-earlier period.

Total revenue grew 91.1% year over year to 123.5 million rupees from 64.6 million rupees, and total operating expenses grew from the prior-year period to 115.8 million rupees from 54.1 million rupees.

Reported net income came to 356,000 rupees, compared with a loss of 428,000 rupees, or a loss of 1 paise per share, in the prior-year period.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.