Talbros Engineering Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 44 Indian paise per share, a decline of 87.1% from 3.42 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 2.2 million rupees, a decrease of 76.9% from 9.6 million rupees in the year-earlier period.

The normalized profit margin fell to 0.9% from 3.2% in the year-earlier period.

Total revenue decreased 15.1% year over year to 259.5 million rupees from 305.7 million rupees, and total operating expenses decreased 10.9% from the prior-year period to 250.5 million rupees from 281.3 million rupees.

Reported net income fell 81.0% from the prior-year period to 2.4 million rupees, or 47 paise per share, from 12.4 million rupees, or 4.41 rupees per share.

As of Aug. 7, US$1 was equivalent to 61.24 Indian rupees.