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Vadilal Enterprises swings to profit in fiscal Q2

Vadilal Enterprises Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 43 Indian paise per share, compared with a loss of 95 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 375,000 rupees, compared with a loss of 825,630 rupees in the year-earlier period.

The normalized profit margin rose to 0.0% from negative 0.1% in the year-earlier period.

Total revenue increased 10.3% on an annual basis to 888.0 million rupees from 805.2 million rupees, and total operating expenses grew 9.7% from the prior-year period to 886.4 million rupees from 807.8 million rupees.

Reported net income totaled 493,000 rupees, or 57 paise per share, compared to a loss of 1.0 million rupees, or a loss of 1.17 rupees per share, in the year-earlier period.

As of Nov. 17, US$1 was equivalent to 61.80 Indian rupees.