LML Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was a loss of 1.41 Indian rupees per share, compared with a loss of 1.52 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 a loss of 115.6 million rupees, compared with a loss of 124.4 million rupees in the prior-year period.

The normalized profit margin declined to negative 30.0% from negative 25.3% in the year-earlier period.

Total revenue declined 21.5% on an annual basis to 385.9 million rupees from 491.6 million rupees, and total operating expenses decreased 22.6% on an annual basis to 451.3 million rupees from 583.2 million rupees.

Reported net income totaled a loss of 185.0 million rupees, or a loss of 2.26 rupees per share, compared to a loss of 199.0 million rupees, or a loss of 2.43 rupees per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.