Eurotex Industries and Exports Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 30 Indian paise per share, a decrease of 56.5% from 69 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.6 million rupees, a decline of 56.2% from 6.0 million rupees in the year-earlier period.

The normalized profit margin declined to 0.4% from 0.9% in the year-earlier period.

Total revenue declined 12.1% on an annual basis to 609.9 million rupees from 694.1 million rupees, and total operating expenses declined 13.7% year over year to 587.4 million rupees from 680.5 million rupees.

Reported net income declined 15.3% from the prior-year period to 5.2 million rupees, or 59 paise per share, from 6.1 million rupees, or 70 paise per share.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.