Kalyani Forge Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 2.11 Indian rupees per share, compared with a loss of 4.34 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.7 million rupees, compared with a loss of 15.8 million rupees in the prior-year period.

The normalized profit margin rose to 1.4% from negative 2.7% in the year-earlier period.

Total revenue decreased 7.9% on an annual basis to 541.0 million rupees from 587.2 million rupees, and total operating expenses decreased 10.9% on an annual basis to 536.1 million rupees from 601.6 million rupees.

Reported net income came to 8.2 million rupees, or 2.25 rupees per share, compared to a loss of 16.9 million rupees, or a loss of 4.64 rupees per share, in the year-earlier period.

As of Feb. 2, US$1 was equivalent to 67.97 Indian rupees.