Negotium International Trade Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 58,650 rupees, a decrease of 59.2% from 143,750 rupees in the year-earlier period.

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

The normalized profit margin declined to 1.5% from 3.9% in the year-earlier period.

Total revenue grew 6.9% year over year to 3.9 million rupees from 3.7 million rupees, and total operating expenses increased 28.2% year over year to 4.4 million rupees from 3.4 million rupees.

Reported net income fell 92.0% year over year to 11,230 rupees, or 0 paise per share, from 140,000 rupees, or 0 paise per share.

As of Dec. 30, US$1 was equivalent to 66.42 Indian rupees.