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REIL Electricals India swings to profit in fiscal Q2

REIL Electricals India Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 49 Indian paise per share, compared with a loss of 67 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 1.9 million rupees, compared with a loss of 2.5 million rupees in the prior-year period.

The normalized profit margin rose to 4.4% from negative 8.2% in the year-earlier period.

Total revenue rose 36.2% on an annual basis to 42.1 million rupees from 30.9 million rupees, and total operating expenses increased 12.9% on an annual basis to 38.1 million rupees from 33.8 million rupees.

Reported net income came to 3.0 million rupees, or 79 paise per share, compared to a loss of 4.0 million rupees, or a loss of 1.07 rupees per share, in the prior-year period.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.