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Lumax Industries swings to profit in fiscal Q1

Lumax Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 3.07 Indian rupees per share, compared with a loss of 28 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 28.7 million rupees, compared with a loss of 2.6 million rupees in the prior-year period.

The normalized profit margin climbed to 1.1% from negative 0.1% in the year-earlier period.

Total revenue grew year over year to 2.73 billion rupees from 2.69 billion rupees, and total operating expenses came to 2.65 billion rupees, compared with 2.66 billion rupees in the prior-year period.

Reported net income increased on an annual basis to 49.7 million rupees, or 5.32 rupees per share, from 6.3 million rupees, or 67 paise per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.