Cochin Malabar Estates & Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 16 Indian paise per share, compared with a loss of 36 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 272,500 rupees, compared with a loss of 636,880 rupees in the year-earlier period.

Reported net income totaled a loss of 436,000 rupees, or a loss of 25 paise per share, compared to income of 20.8 million rupees, or 11.72 rupees per share, in the year-earlier period.

As of Aug. 12, US$1 was equivalent to 64.75 Indian rupees.