Inceptum Enterprises Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 1 Indian paise per share, a decline of 18.0% from 2 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 60,860 rupees, a decrease of 18.0% from 74,200 rupees in the prior-year period.

The normalized profit margin fell to 1.8% from 2.2% in the year-earlier period.

Total revenue came to 3.4 million rupees, compared with 3.4 million rupees in the prior-year period, and total operating expenses rose from the prior-year period to 3.3 million rupees from 3.2 million rupees.

Reported net income increased from the prior-year period to 64,870 rupees, or 2 paise per share, from 63,500 rupees, or 2 paise per share.

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