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Delta Corp. swings to profit in fiscal Q2

Delta Corp. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 86.9 million rupees, compared with a loss of 1.4 million rupees in the year-earlier period.

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

The normalized profit margin increased to 9.3% from negative 0.2% in the year-earlier period.

Total revenue rose 23.2% year over year to 935.9 million rupees from 759.6 million rupees, and total operating expenses increased 9.6% from the prior-year period to 714.7 million rupees from 652.1 million rupees.

Reported net income totaled 64.6 million rupees, or 28 paise per share, compared to a loss of 35.5 million rupees, or a loss of 16 paise per share, in the year-earlier period.

As of Oct. 21, US$1 was equivalent to 65.20 Indian rupees.