Girdharilal Sugar & Allied Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 2.1 million rupees, a decline of 50.0% from 4.1 million 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 fell to 0.7% from 5.1% in the year-earlier period.

Total revenue rose year over year to 316.2 million rupees from 81.5 million rupees, and total operating expenses grew year over year to 307.2 million rupees from 73.0 million rupees.

Reported net income totaled 3.3 million rupees, compared with 6.6 million rupees, or 36 paise per share, in the year-earlier period.

As of Oct. 30, US$1 was equivalent to 65.41 Indian rupees.