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Kretto Syscon swings to profit in fiscal Q1

Kretto Syscon Ltd said its normalized net income for the fiscal first quarter ended June 30 was 6,880 rupees, compared with a loss of 5,630 rupees in the year-earlier period.

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

The normalized profit margin increased to 0.8% from negative 0.7% in the year-earlier period.

Total revenue increased 15.2% year over year to 870,000 rupees from 755,000 rupees, and total operating expenses increased 12.4% from the prior-year period to 859,000 rupees from 764,000 rupees.

Reported net income came to 11,000 rupees, or 4 paise per share, compared to a loss of 9,000 rupees in the prior-year period.

As of July 18, US$1 was equivalent to 60.44 Indian rupees.