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SJ Corp. swings to profit in fiscal Q3

SJ Corp. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 10 Indian paise per share, compared with a loss of 21 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 895,630 rupees, compared with a loss of 1.8 million rupees in the year-earlier period.

The normalized profit margin increased to 0.9% from negative 1.5% in the year-earlier period.

Total revenue decreased 19.6% year over year to 94.3 million rupees from 117.3 million rupees, and total operating expenses declined 22.4% from the prior-year period to 92.1 million rupees from 118.8 million rupees.

Reported net income came to 1.2 million rupees, or 14 paise per share, compared to a loss of 2.9 million rupees, or a loss of 34 paise per share, in the year-earlier period.

As of Jan. 30, US$1 was equivalent to 62.01 Indian rupees.