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Filatex Fashions swings to profit in fiscal Q2

Filatex Fashions Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30, 2015, came to 363,130 rupees, compared with a loss of 226,880 rupees in the year-earlier period.

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

The normalized profit margin rose to 0.4% from negative 0.4% in the year-earlier period.

Total revenue grew 71.2% on an annual basis to 90.9 million rupees from 53.1 million rupees, and total operating expenses rose 68.2% year over year to 90.0 million rupees from 53.5 million rupees.

Reported net income totaled 581,000 rupees, compared with a loss of 363,000 rupees, or a loss of 3 paise per share, in the year-earlier period.

As of Jan. 6, US$1 was equivalent to 66.74 Indian rupees.