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Cantil Retail India swings to profit in fiscal Q1

Cantabil Retail India Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 12 Indian paise per share, compared with a loss of 72 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 1.9 million rupees, compared with a loss of 11.8 million rupees in the year-earlier period.

The normalized profit margin rose to 0.7% from negative 5.7% in the year-earlier period.

Total revenue grew 27.8% year over year to 266.7 million rupees from 208.7 million rupees, and total operating expenses rose 15.4% from the prior-year period to 251.7 million rupees from 218.0 million rupees.

Reported net income totaled 2.4 million rupees, or 15 paise per share, compared to a loss of 18.8 million rupees, or a loss of 1.15 rupees per share, in the prior-year period.

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