Jagan Lamps Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 14 Indian paise per share, a gain from 5 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 980,000 rupees, a gain from 278,130 rupees in the year-earlier period.

The normalized profit margin climbed to 3.2% from 0.7% in the year-earlier period.

Total revenue declined 27.1% year over year to 30.7 million rupees from 42.2 million rupees, and total operating expenses declined 31.1% on an annual basis to 28.4 million rupees from 41.2 million rupees.

Reported net income grew year over year to 1.6 million rupees, or 22 paise per share, from 325,000 rupees, or 6 paise per share.

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