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Transchem swings to profit in fiscal Q1

Transchem Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 1 Indian paise per share, compared with a loss of 14 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 183,750 rupees, compared with a loss of 1.7 million rupees in the year-earlier period.

Reported net income totaled 294,000 rupees, or 2 paise per share, compared to a loss of 2.6 million rupees, or a loss of 22 paise per share, in the prior-year period.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.