Shree Rajasthan Syntex Ltd said its normalized net income for the fiscal first quarter ended June 30 was 38 Indian paise per share, compared with a loss of 41 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 4.7 million rupees, compared with a loss of 5.1 million rupees in the year-earlier period.

The normalized profit margin increased to 0.8% from negative 0.7% in the year-earlier period.

Total revenue decreased 20.1% year over year to 617.6 million rupees from 772.6 million rupees, and total operating expenses decreased 24.9% from the prior-year period to 571.3 million rupees from 760.4 million rupees.

Reported net income came to 4.3 million rupees, or 35 paise per share, compared to a loss of 5.8 million rupees, or a loss of 47 paise per share, in the year-earlier period.

As of Aug. 7, US$1 was equivalent to 63.74 Indian rupees.