HPC Biosciences Ltd. said its normalized net income for the fiscal first half ended Sept. 30 came to 1 Indian paise per share, a decline of 27.1% from 2 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 2.6 million rupees, a decline of 11.1% from 2.9 million rupees in the year-earlier period.

Total revenue decreased year over year to 13.8 million rupees from 14.5 million rupees, and total operating expenses declined year over year to 9.7 million rupees from 9.8 million rupees.

Reported net income decreased 13.0% from the prior-year period to 3.9 million rupees, or 2 paise per share, from 4.5 million rupees, or 3 paise per share.

As of Nov. 16, US$1 was equivalent to 66.02 Indian rupees.