Shree Bhavya Fabrics Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 10 Indian paise per share, a gain from 5 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 973,750 rupees, a gain from 475,000 rupees in the prior-year period.

The normalized profit margin rose to 0.2% from 0.1% in the year-earlier period.

Total revenue declined 18.2% on an annual basis to 508.0 million rupees from 621.2 million rupees, and total operating expenses decreased 18.0% from the prior-year period to 487.9 million rupees from 595.0 million rupees.

Reported net income increased from the prior-year period to 1.6 million rupees, or 16 paise per share, from 760,000 rupees, or 8 paise per share.

As of Feb. 8, US$1 was equivalent to 68.00 Indian rupees.