Radix Industries (India) Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 13 Indian paise per share, a decrease of 83.1% from 78 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.4 million rupees, a decrease of 82.5% from 7.8 million rupees in the year-earlier period.

The normalized profit margin declined to 5.2% from 11.3% in the year-earlier period.

Total revenue decreased 61.8% year over year to 26.6 million rupees from 69.6 million rupees, and total operating expenses decreased 60.4% on an annual basis to 22.4 million rupees from 56.7 million rupees.

Reported net income decreased 82.5% on an annual basis to 1.5 million rupees, or 14 paise per share, from 8.3 million rupees, or 83 paise per share.

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