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REIL Electricals India swings to profit in fiscal Q1

REIL Electricals India Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 16 Indian paise per share, compared with a loss of 51 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 607,500 rupees, compared with a loss of 1.9 million rupees in the prior-year period.

The normalized profit margin rose to 1.5% from negative 5.4% in the year-earlier period.

Total revenue increased 18.8% on an annual basis to 41.6 million rupees from 35.0 million rupees, and total operating expenses increased 7.0% year over year to 39.7 million rupees from 37.1 million rupees.

Reported net income totaled 972,000 rupees, or 26 paise per share, compared to a loss of 3.0 million rupees, or a loss of 81 paise per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to 64.75 Indian rupees.