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Donear Industries swings to profit in fiscal Q3

Donear Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 15 Indian paise per share, compared with a loss of 3 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.7 million rupees, compared with a loss of 1.8 million rupees in the year-earlier period.

The normalized profit margin increased to 0.7% from negative 0.1% in the year-earlier period.

Total revenue fell year over year to 1.19 billion rupees from 1.21 billion rupees, and total operating expenses fell year over year to 1.12 billion rupees from 1.14 billion rupees.

Reported net income totaled 25.5 million rupees, or 49 paise per share, compared to a loss of 2.7 million rupees, or a loss of 5 paise per share, in the prior-year period.

As of Feb. 27, US$1 was equivalent to 61.78 Indian rupees.