Thangamayil Jewellery Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 2.40 Indian rupees per share, compared with a loss of 2.80 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 32.9 million rupees, compared with a loss of 38.5 million rupees in the prior-year period.

The normalized profit margin climbed to 1.1% from negative 1.0% in the year-earlier period.

Total revenue fell 19.1% year over year to 3.00 billion rupees from 3.71 billion rupees, and total operating expenses decreased 22.1% year over year to 2.89 billion rupees from 3.71 billion rupees.

Reported net income came to 36.3 million rupees, or 2.65 rupees per share, compared to a loss of 39.8 million rupees, or a loss of 2.90 rupees per share, in the year-earlier period.

As of July 9, US$1 was equivalent to 63.31 Indian rupees.