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JBF Industries swings to profit in fiscal Q2

JBF Industries Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 was 4.42 Indian rupees per share, compared with a loss of 21 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 296.5 million rupees, compared with a loss of 12.1 million rupees in the year-earlier period.

The normalized profit margin rose to 1.3% from negative 0.1% in the year-earlier period.

Total revenue totaled 22.44 billion rupees, compared with 22.43 billion rupees in the year-earlier period, and total operating expenses totaled 21.02 billion rupees, compared with 20.96 billion rupees in the year-earlier period.

Reported net income totaled 355.3 million rupees, or 5.30 rupees per share, compared to a loss of 38.9 million rupees, or a loss of 66 paise per share, in the prior-year period.

As of Nov. 14, US$1 was equivalent to 61.73 Indian rupees.