Royale Manor Hotels and Industries Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 2 Indian paise per share, a decrease of 59.7% from 4 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 447,500 rupees, a decline of 50.7% from 908,130 rupees in the year-earlier period.

The normalized profit margin dropped to 1.0% from 2.0% in the year-earlier period.

Total revenue came to 44.6 million rupees, compared with 44.8 million rupees in the year-earlier period, and total operating expenses increased year over year to 41.7 million rupees from 40.5 million rupees.

Reported net income declined 51.1% year over year to 581,000 rupees, or 2 paise per share, from 1.2 million rupees, or 5 paise per share.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.