Neelamalai Agro Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 25.31 Indian rupees per share, a decrease of 30.3% from 36.30 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.9 million rupees, a decline of 30.3% from 22.8 million rupees in the year-earlier period.

The normalized profit margin fell to 17.7% from 34.8% in the year-earlier period.

Total revenue rose 37.1% on an annual basis to 89.7 million rupees from 65.4 million rupees, and total operating expenses grew 41.5% from the prior-year period to 87.3 million rupees from 61.7 million rupees.

Reported net income fell 32.5% year over year to 24.0 million rupees, or 38.26 rupees per share, from 35.5 million rupees, or 56.65 rupees per share.

As of Oct. 20, US$1 was equivalent to 64.96 Indian rupees.