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Sanrhea Technical Textiles swings to profit in fiscal Q2

Sanrhea Technical Textiles Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 15 Indian paise per share, compared with a loss of 48 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 445,630 rupees, compared with a loss of 1.4 million rupees in the year-earlier period.

The normalized profit margin climbed to 0.6% from negative 2.2% in the year-earlier period.

Total revenue grew 14.4% year over year to 75.6 million rupees from 66.1 million rupees, and total operating expenses grew 9.7% from the prior-year period to 72.2 million rupees from 65.8 million rupees.

Reported net income totaled 531,000 rupees, or 18 paise per share, compared to a loss of 2.3 million rupees, or a loss of 76 paise per share, in the prior-year period.

As of Nov. 18, US$1 was equivalent to 61.75 Indian rupees.