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China Jo-Jo Drugstores swings to profit in fiscal Q2

China Jo-Jo Drugstores Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 came to $70,700, compared with a loss of $7,990 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 0.3% from negative 0.0% in the year-earlier period.

Total revenue increased 22.4% on an annual basis to $22.6 million from $18.4 million, and total operating expenses increased 24.5% from the prior-year period to $22.9 million from $18.4 million.

Reported net income came to $165,890, or 1 cents per share, compared to a loss of $36,190, or a loss of 0 cents per share, in the prior-year period.