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Omnitex Industries (India) swings to loss in fiscal Q2

Omnitex Industries (India) Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 33,130 rupees, compared with income of 236,880 rupees in the year-earlier period.

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

Reported net income came to a loss of 38,000 rupees, or a loss of 1 paise per share, compared to income of 262,000 rupees, or 6 paise per share, in the prior-year period.

As of Nov. 18, US$1 was equivalent to 61.75 Indian rupees.