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Naturite Agro Products swings to profit in fiscal Q2

Naturite Agro Products Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30, 2014, was 266,880 rupees, compared with a loss of 344,210 rupees in the prior-year period.

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

The normalized profit margin climbed to 3.1% from negative 5.7% in the year-earlier period.

Total revenue rose 43.1% on an annual basis to 8.7 million rupees from 6.1 million rupees, and total operating expenses increased 24.9% year over year to 8.3 million rupees from 6.6 million rupees.

Reported net income totaled 427,000 rupees, or 8 paise per share, compared to a loss of 550,740 rupees in the year-earlier period.

As of Feb. 5, US$1 was equivalent to 61.74 Indian rupees.