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Gayatri BioOrganics swings to profit in fiscal Q1

Gayatri BioOrganics Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 1 Indian paise per share, compared with a loss of 85 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.1 million rupees, compared with a loss of 39.9 million rupees in the prior-year period.

The normalized profit margin climbed to 0.3% from negative 12.2% in the year-earlier period.

Total revenue grew year over year to 1.23 billion rupees from 327.6 million rupees, and total operating expenses increased year over year to 1.21 billion rupees from 373.5 million rupees.

Reported net income came to 6.6 million rupees, or 2 paise per share, compared to a loss of 63.9 million rupees, or a loss of 1.36 rupees per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.