Dhanada Corp. Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 11 Indian paise per share, compared with a loss of 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 a loss of 6.3 million rupees, compared with a loss of 2.5 million rupees in the year-earlier period.

The normalized profit margin declined to negative 34.6% from negative 14.2% in the year-earlier period.

Total revenue increased year over year to 18.2 million rupees from 17.8 million rupees, and total operating expenses increased 18.1% year over year to 22.4 million rupees from 19.0 million rupees.

Reported net income totaled a loss of 10.3 million rupees, or a loss of 18 paise per share, compared to a loss of 4.3 million rupees, or a loss of 8 paise per share, in the prior-year period.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.