Filatex Fashions Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 358,750 rupees, a fall of 88.6% from 3.1 million rupees in the prior-year period.

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

The normalized profit margin dropped to 0.4% from 4.7% in the year-earlier period.

Total revenue grew 33.6% year over year to 88.5 million rupees from 66.2 million rupees, and total operating expenses grew 44.6% from the prior-year period to 87.5 million rupees from 60.6 million rupees.

Reported net income totaled 429,000 rupees, compared with 5.0 million rupees, or 42 paise per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.