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Shree Rang Mark Travels swings to profit in fiscal Q3

Shree Rang Mark Travels Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 70,980 rupees, compared with a loss of 14,480 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 2.5% from negative 4.9% in the year-earlier period.

Total revenue climbed on an annual basis to 2.8 million rupees from 295,360 rupees, and total operating expenses increased on an annual basis to 2.8 million rupees from 318,520 rupees.

Reported net income came to 113,570 rupees, or 4 paise per share, compared to a loss of 32,240 rupees in the prior-year period.

As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.