Maral Overseas Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 58 Indian paise per share, an increase of 8.2% from 54 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 30.6 million rupees, a decline of 14.0% from 35.6 million rupees in the prior-year period.

The normalized profit margin dropped to 2.0% from 2.2% in the year-earlier period.

Total revenue fell year over year to 1.56 billion rupees from 1.64 billion rupees, and total operating expenses fell 5.8% year over year to 1.48 billion rupees from 1.57 billion rupees.

Reported net income fell 31.0% year over year to 31.1 million rupees, or 59 paise per share, from 45.1 million rupees, or 68 paise per share.

As of July 21, US$1 was equivalent to 63.54 Indian rupees.