Winsome Textile Industries Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 3.23 Indian rupees per share, a gain of 88.0% from 1.72 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 64.1 million rupees, a gain of 88.4% from 34.0 million rupees in the year-earlier period.

The normalized profit margin climbed to 3.9% from 1.9% in the year-earlier period.

Total revenue declined 7.5% year over year to 1.63 billion rupees from 1.76 billion rupees, and total operating expenses decreased 10.9% from the prior-year period to 1.38 billion rupees from 1.55 billion rupees.

Reported net income increased 88.4% on an annual basis to 102.5 million rupees, or 5.17 rupees per share, from 54.4 million rupees, or 2.75 rupees per share.

As of July 15, US$1 was equivalent to 63.50 Indian rupees.