Diligent Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 17 Indian paise per share, compared with a loss of 25 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 4.0 million rupees, compared with a loss of 5.7 million rupees in the year-earlier period.

The normalized profit margin increased to negative 27.1% from negative 43.4% in the year-earlier period.

Total revenue increased 11.7% on an annual basis to 14.7 million rupees from 13.2 million rupees, and total operating expenses climbed from the prior-year period to 17.7 million rupees from 17.0 million rupees.

Reported net income totaled a loss of 6.5 million rupees, or a loss of 28 paise per share, compared to a loss of 9.1 million rupees, or a loss of 40 paise per share, in the year-earlier period.

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