Madhusudan Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 22 Indian paise per share, a gain from 1 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.2 million rupees, a gain from 76,880 rupees in the prior-year period.

Reported net income grew from the prior-year period to 1.9 million rupees, or 35 paise per share, from 123,000 rupees, or 2 paise per share.

As of Feb. 5, US$1 was equivalent to 67.80 Indian rupees.