Vijay Solvex Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 3.13 Indian rupees per share, a gain of 9.9% from 2.84 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.0 million rupees, a gain of 10.0% from 9.1 million rupees in the prior-year period.

The normalized profit margin climbed to 0.4% from 0.3% in the year-earlier period.

Total revenue fell 10.7% year over year to 2.42 billion rupees from 2.71 billion rupees, and total operating expenses declined 9.7% year over year to 2.38 billion rupees from 2.64 billion rupees.

Reported net income rose year over year to 12.8 million rupees, or 4.00 rupees per share, from 12.2 million rupees, or 3.83 rupees per share.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.