Spectrum Foods Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 692,500 rupees, compared with income of 256,880 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 6.3% from 6.1% in the year-earlier period.

Total revenue climbed on an annual basis to 11.0 million rupees from 4.2 million rupees, and total operating expenses increased 91.0% on an annual basis to 7.1 million rupees from 3.7 million rupees.

Reported net income totaled a loss of 1.1 million rupees, compared with income of 411,000 rupees, or 17 paise per share, in the prior-year period.

As of Aug. 13, US$1 was equivalent to 65.29 Indian rupees.