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Vyapar Industries swings to profit in fiscal Q2

Vyapar Industries Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 9,380 rupees, compared with a loss of 4.0 million 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 0.0% from negative 19.2% in the year-earlier period.

Total revenue climbed year over year to 105.2 million rupees from 20.9 million rupees, and total operating expenses rose year over year to 109.0 million rupees from 32.6 million rupees.

Reported net income came to 12,000 rupees, or 0 paise per share, compared to a loss of 6.4 million rupees, or a loss of 59 paise per share, in the prior-year period.

As of Oct. 30, US$1 was equivalent to 65.41 Indian rupees.