Olympic Oil Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 6.72 Indian rupees per share, a decline from 6.91 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 19.2 million rupees, a decline from 19.7 million rupees in the year-earlier period.

The normalized profit margin dropped to 0.4% from 0.6% in the year-earlier period.

Total revenue climbed 32.4% on an annual basis to 4.44 billion rupees from 3.35 billion rupees, and total operating expenses rose 33.6% year over year to 4.43 billion rupees from 3.31 billion rupees.

Reported net income decreased from the prior-year period to 20.6 million rupees, or 7.21 rupees per share, from 21.1 million rupees, or 7.38 rupees per share.

As of Nov. 9, US$1 was equivalent to 66.41 Indian rupees.