Goldiam International Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 1.47 Indian rupees per share, a decline of 58.0% from 3.50 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 36.7 million rupees, a decrease of 58.0% from 87.5 million rupees in the year-earlier period.

The normalized profit margin declined to 4.7% from 11.2% in the year-earlier period.

Total revenue totaled 786.5 million rupees, compared with 781.5 million rupees in the prior-year period, and total operating expenses increased year over year to 752.9 million rupees from 738.6 million rupees.

Reported net income decreased 59.0% on an annual basis to 45.9 million rupees, or 1.84 rupees per share, from 112.1 million rupees, or 4.49 rupees per share.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.