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Sanrhea Technical Textiles swings to profit in fiscal Q3

Sanrhea Technical Textiles Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 11 Indian paise per share, compared with a loss of 1.02 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 321,250 rupees, compared with a loss of 3.1 million rupees in the prior-year period.

The normalized profit margin increased to 0.3% from negative 4.5% in the year-earlier period.

Total revenue climbed 36.9% on an annual basis to 92.2 million rupees from 67.4 million rupees, and total operating expenses increased 28.0% from the prior-year period to 88.8 million rupees from 69.4 million rupees.

Reported net income totaled 419,000 rupees, or 14 paise per share, compared to a loss of 4.9 million rupees, or a loss of 1.63 rupees per share, in the year-earlier period.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.