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Delta Corp. swings to profit in fiscal Q1

Delta Corp. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 27.8 million rupees, compared with a loss of 93.9 million rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 3.4% from negative 16.9% in the year-earlier period.

Total revenue increased 46.2% year over year to 814.5 million rupees from 557.1 million rupees, and total operating expenses increased 10.3% year over year to 675.9 million rupees from 612.7 million rupees.

Reported net income totaled 1.0 million rupees, compared with a loss of 195.7 million rupees, or a loss of 86 paise per share, in the prior-year period.

As of July 16, US$1 was equivalent to 63.48 Indian rupees.