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RCL Foods swings to profit in fiscal H1

RCL Foods Ltd said its normalized net income for the fiscal first half ended Sept. 30 came to 9 Indian paise per share, compared with a loss of 56 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 431,250 rupees, compared with a loss of 2.6 million rupees in the year-earlier period.

Total revenue rose 17.6% on an annual basis to 6.2 million rupees from 5.3 million rupees, and total operating expenses rose 14.4% from the prior-year period to 5.9 million rupees from 5.2 million rupees.

Reported net income came to 690,000 rupees, or 15 paise per share, compared to a loss of 2.5 million rupees, or a loss of 54 paise per share, in the year-earlier period.

As of Nov. 17, US$1 was equivalent to 65.98 Indian rupees.