Jaipan Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 5 Indian paise per share, compared with 5 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 309,380 rupees, a gain from 296,250 rupees in the year-earlier period.

The normalized profit margin dropped to 0.4% from 0.5% in the year-earlier period.

Total revenue increased 11.2% year over year to 70.3 million rupees from 63.2 million rupees, and total operating expenses rose 10.5% year over year to 67.0 million rupees from 60.6 million rupees.

Reported net income totaled 495,000 rupees, or 8 paise per share, compared to 474,000 rupees, or 8 paise per share, in the year-earlier period.

As of Nov. 16, US$1 was equivalent to 66.02 Indian rupees.