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ANS Industries swings to profit in fiscal Q2

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ANS Industries swings to profit in fiscal Q2

ANS Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 2.6 million rupees, compared with a loss of 2.5 million 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 rose to 21.2% from negative 73.7% in the year-earlier period.

Total revenue climbed on an annual basis to 12.4 million rupees from 3.4 million rupees, and total operating expenses increased 10.6% year over year to 7.4 million rupees from 6.7 million rupees.

Reported net income came to 4.2 million rupees, or 46 paise per share, compared to a loss of 4.1 million rupees in the prior-year period.

As of Nov. 9, US$1 was equivalent to 66.41 Indian rupees.