Sir Shadi Lal Enterprises Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 32.88 Indian rupees per share, compared with a loss of 4.19 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 a loss of 172.6 million rupees, compared with a loss of 22.0 million rupees in the prior-year period.

The normalized profit margin fell to negative 22.7% from negative 2.1% in the year-earlier period.

Total revenue fell 27.5% on an annual basis to 759.8 million rupees from 1.05 billion rupees, and total operating expenses fell 7.0% from the prior-year period to 956.5 million rupees from 1.03 billion rupees.

Reported net income came to a loss of 276.2 million rupees, or a loss of 52.61 rupees per share, compared to a loss of 35.2 million rupees, or a loss of 6.70 rupees per share, in the year-earlier period.

As of July 15, US$1 was equivalent to 63.50 Indian rupees.