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Dollex Industries swings to loss in fiscal Q1

Dollex Industries Ltd said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 203,130 rupees, compared with income of 30,000 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 fell to negative 0.2% from 0.4% in the year-earlier period.

Total revenue increased year over year to 133.7 million rupees from 8.1 million rupees, and total operating expenses rose year over year to 134.0 million rupees from 8.1 million rupees.

Reported net income came to a loss of 325,000 rupees, or a loss of 1 paise per share, compared to income of 48,000 rupees in the prior-year period.

As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.