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Kretto Syscon swings to profit in fiscal Q3

Kretto Syscon Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 13,130 rupees, compared with a loss of 11,250 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 2.4% from negative 1.5% in the year-earlier period.

Total revenue declined 28.9% year over year to 540,000 rupees from 759,000 rupees, and total operating expenses fell 33.2% year over year to 519,000 rupees from 777,000 rupees.

Reported net income totaled 21,000 rupees, compared with a loss of 18,000 rupees, or a loss of 7 paise per share, in the year-earlier period.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.