Iplayco Corp. Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was C$151,310, a fall of 19.7% from C$188,410 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 4.2% from 4.3% in the year-earlier period.

Total revenue declined 16.8% on an annual basis to C$3.6 million from C$4.3 million, and total operating expenses decreased 6.6% from the prior-year period to C$3.6 million from C$3.9 million.

Reported net income grew 33.6% year over year to C$208,700, or 1 cents per share, from C$156,270, or 1 cents per share.