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ANS Industries swings to profit in fiscal Q3

ANS Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 588,130 rupees, compared with a loss of 2.6 million 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 4.1% from negative 60.0% in the year-earlier period.

Total revenue climbed year over year to 14.5 million rupees from 4.4 million rupees, and total operating expenses grew 62.5% year over year to 12.8 million rupees from 7.9 million rupees.

Reported net income came to 941,000 rupees, or 10 paise per share, compared to a loss of 4.2 million rupees in the prior-year period.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.