Inceptum Enterprises Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 36,270 rupees, a decline of 23.2% from 47,240 rupees in the prior-year period.

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

The normalized profit margin rose to 1.8% from 1.6% in the year-earlier period.

Total revenue fell 34.8% on an annual basis to 2.0 million rupees from 3.0 million rupees, and total operating expenses declined 35.1% on an annual basis to 1.9 million rupees from 2.9 million rupees.

Reported net income decreased 23.2% from the prior-year period to 58,030 rupees, or 1 paisa per share, from 75,580 rupees, or 2 paise per share.

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