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Transchem swings to profit in fiscal Q2

Transchem Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 2 Indian paise per share, compared with a loss of 7 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 246,880 rupees, compared with a loss of 873,130 rupees in the prior-year period.

Reported net income came to 693,000 rupees, or 6 paise per share, compared to a loss of 1.4 million rupees, or a loss of 11 paise per share, in the year-earlier period.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.