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Donear Industries swings to profit in fiscal Q1

Donear Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 20 Indian paise per share, compared with a loss of 5 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.3 million rupees, compared with a loss of 1.9 million rupees in the year-earlier period.

The normalized profit margin climbed to 0.8% from negative 0.2% in the year-earlier period.

Total revenue increased 26.3% on an annual basis to 1.27 billion rupees from 1.01 billion rupees, and total operating expenses rose 26.0% year over year to 1.19 billion rupees from 945.8 million rupees.

Reported net income grew on an annual basis to 39.6 million rupees, or 76 paise per share, from 1.1 million rupees, or 3 paise per share.

As of Aug. 15, US$1 was equivalent to 60.80 Indian rupees.