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REIL Electricals India swings to profit in fiscal Q3

REIL Electricals India Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 33 Indian paise per share, compared with a loss of 28 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.3 million rupees, compared with a loss of 1.0 million rupees in the prior-year period.

The normalized profit margin increased to 3.4% from negative 3.1% in the year-earlier period.

Total revenue rose 11.0% year over year to 36.5 million rupees from 32.9 million rupees, and total operating expenses came to 33.8 million rupees, compared with 33.5 million rupees in the year-earlier period.

Reported net income totaled 2.0 million rupees, or 53 paise per share, compared to a loss of 1.6 million rupees, or a loss of 44 paise per share, in the prior-year period.

As of Feb. 8, US$1 was equivalent to 68.00 Indian rupees.