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M M Rubber swings to profit in fiscal Q2

M M Rubber Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 96,250 rupees, compared with a loss of 1.4 million rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 0.2% from negative 3.1% in the year-earlier period.

Total revenue grew on an annual basis to 48.5 million rupees from 46.7 million rupees, and total operating expenses declined from the prior-year period to 47.0 million rupees from 47.8 million rupees.

Reported net income totaled 154,000 rupees, compared with a loss of 2.3 million rupees in the prior-year period.

As of Oct. 30, US$1 was equivalent to 65.41 Indian rupees.