Iplayco Corp. Ltd. said its normalized net income for the fiscal second quarter ended March 31 came to C$110,830, a decrease of 17.9% from C$134,970 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 3.5% from 4.0% in the year-earlier period.

Total revenue declined 5.1% year over year to C$3.2 million from C$3.4 million, and total operating expenses climbed year over year to C$3.1 million from C$3.1 million.

Reported net income increased 7.3% year over year to C$219,350, or 1 cents per share, from C$204,400, or 2 cents per share.