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Aarvee Denims & Exports swings to profit in fiscal Q3

4911541 said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 41 Indian paise per share, compared with a loss of 19 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 9.7 million rupees, compared with a loss of 4.6 million rupees in the year-earlier period.

The normalized profit margin rose to 0.5% from negative 0.3% in the year-earlier period.

Total revenue rose 14.7% year over year to 1.95 billion rupees from 1.70 billion rupees, and total operating expenses rose 14.6% year over year to 1.85 billion rupees from 1.62 billion rupees.

eported net income totaled 13.4 million rupees, or 57 pai Aarvee Denims and Exports Ltd