Kemp and Company Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 72 Indian paise per share, a decrease of 70.9% from 2.47 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 775,000 rupees, a decline of 70.9% from 2.7 million rupees in the year-earlier period.

The normalized profit margin declined to 8.1% from 17.4% in the year-earlier period.

Total revenue fell 37.9% year over year to 9.5 million rupees from 15.3 million rupees, and total operating expenses decreased 26.1% from the prior-year period to 11.6 million rupees from 15.7 million rupees.

Reported net income decreased 58.3% on an annual basis to 1.7 million rupees, or 1.59 rupees per share, from 4.1 million rupees, or 3.81 rupees per share.

As of Nov. 9, US$1 was equivalent to 66.41 Indian rupees.