The company said it made INR 12.1m ($202,000)to 31 March on a net basis, from a loss of INR 1.2m in the same three months of2013.

Revenue grew to INR 45.6m against INR 41.8m,but expenses rose to INR 67.3m, compared to INR 55.3m the year before.

But a currency fluctuation of INR 59.2m froma restatement of foreign currency borrowings boosted the bottom line.