Thangamayil Jewellery Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 2.44 Indian rupees per share, compared with a loss of 8.39 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 33.5 million rupees, compared with a loss of 115.1 million rupees in the prior-year period.

The normalized profit margin rose to 0.8% from negative 3.4% in the year-earlier period.

Total revenue grew 21.9% year over year to 4.07 billion rupees from 3.34 billion rupees, and total operating expenses rose 14.9% on an annual basis to 3.96 billion rupees from 3.45 billion rupees.

Reported net income came to 37.1 million rupees, or 2.70 rupees per share, compared to a loss of 124.5 million rupees, or a loss of 9.07 rupees per share, in the year-earlier period.

As of Oct. 19, US$1 was equivalent to 64.84 Indian rupees.