Spice Islands Apparels Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 87 Indian paise per share, compared with a loss of 10 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 3.8 million rupees, compared with a loss of 411,880 rupees in the prior-year period.
The normalized profit margin rose to 6.7% from negative 1.0% in the year-earlier period.
Total revenue climbed 35.8% on an annual basis to 56.4 million rupees from 41.6 million rupees, and total operating expenses grew 24.1% from the prior-year period to 53.2 million rupees from 42.8 million rupees.
Reported net income totaled 4.2 million rupees, or 98 paise per share, compared to a loss of 552,000 rupees, or a loss of 13 paise per share, in the year-earlier period.
As of Nov. 14, US$1 was equivalent to 61.73 Indian rupees.
