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Ravi Kumar Distilleries swings to profit in fiscal Q1

Ravi Kumar Distilleries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 8 Indian paise per share, compared with a loss of 29 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 2.1 million rupees, compared with a loss of 6.9 million rupees in the year-earlier period.

The normalized profit margin rose to 1.6% from negative 8.3% in the year-earlier period.

Total revenue increased 56.6% year over year to 130.2 million rupees from 83.1 million rupees, and total operating expenses rose 48.9% on an annual basis to 126.6 million rupees from 85.0 million rupees.

Reported net income came to 3.5 million rupees, or 14 paise per share, compared to a loss of 11.0 million rupees, or a loss of 46 paise per share, in the prior-year period.

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