Royale Manor Hotels and Industries Ltd said its normalized net income for the fiscal first quarter ended June 30 was 4 Indian paise per share, a decline of 75.1% from 16 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 896,250 rupees, a decrease of 70.3% from 3.0 million rupees in the year-earlier period.

The normalized profit margin fell to 1.9% from 6.8% in the year-earlier period.

Total revenue increased 6.8% year over year to 47.4 million rupees from 44.4 million rupees, and total operating expenses rose 15.3% on an annual basis to 42.0 million rupees from 36.4 million rupees.

Reported net income declined 70.2% on an annual basis to 1.1 million rupees, or 5 paise per share, from 3.8 million rupees, or 20 paise per share.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.