Alps Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 97.6 million rupees, compared with a loss of 245.4 million 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 increased to negative 7.5% from negative 16.4% in the year-earlier period.

Total revenue decreased 13.1% on an annual basis to 1.30 billion rupees from 1.50 billion rupees, and total operating expenses declined 7.0% from the prior-year period to 1.46 billion rupees from 1.57 billion rupees.

Reported net income came to a loss of 156.1 million rupees, compared with a loss of 392.3 million rupees in the prior-year period.

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