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Transchem swings to loss in fiscal Q1

Transchem Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 12,500 rupees, compared with income of 183,750 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Reported net income came to a loss of 20,000 rupees, compared with income of 294,000 rupees, or 2 paise per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.