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Kothari Fermentation & Biochem swings to profit in fiscal Q3

Kothari Fermentation and Biochem Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 51 Indian paise per share, compared with a loss of 13 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 7.6 million rupees, compared with a loss of 2.0 million rupees in the prior-year period.

The normalized profit margin rose to 4.2% from negative 1.5% in the year-earlier period.

Total revenue rose 37.3% year over year to 183.3 million rupees from 133.5 million rupees, and total operating expenses climbed 25.4% year over year to 167.5 million rupees from 133.5 million rupees.

Reported net income came to 8.0 million rupees, or 54 paise per share, compared to a loss of 2.2 million rupees, or a loss of 15 paise per share, in the year-earlier period.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.