Ganesha Ecosphere Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 2.55 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 3.70 rupees per share.

EPS declined 6.7% year over year from 2.73 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 49.3 million rupees, a gain of 14.7% from 43.0 million rupees in the year-earlier period.

The normalized profit margin increased to 3.1% from 2.8% in the year-earlier period.

Total revenue climbed year over year to 1.59 billion rupees from 1.55 billion rupees, and total operating expenses rose year over year to 1.46 billion rupees from 1.44 billion rupees.

Reported net income fell 15.3% from the prior-year period to 57.8 million rupees, or 2.99 rupees per share, from 68.2 million rupees, or 4.34 rupees per share.

As of Nov. 3, US$1 was equivalent to 65.66 Indian rupees.