The firm reported a loss of 29 cents per share for the quarter. For the six months to September the company reported a loss of 56 cents per share on a total loss of 85.1 million rupees.
Revenues in the March quarter fell 11 percent to 1.51 billion rupees, cost of sales fell at a faster 15 percent to 1.37 billion rupees allowing the firm to grow gross profits 68 percent to 145 million rupees.
Chairman Mohan Pandithage said in a statement that the company had been put on a recovery path, an enterprise resource planning software has been implemented and it expected to be out of the red by the end of the year.
Last year the firm found inventory losses and took a write down.Its gross margin had been improved nearly 5 percent through eliminating waste and containing costs, the firm said.