BCL Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 18.4 million rupees, compared with income of 10.6 million rupees in the year-earlier period.

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

The normalized profit margin dropped to negative 1.7% from 0.7% in the year-earlier period.

Total revenue decreased 25.3% on an annual basis to 1.10 billion rupees from 1.47 billion rupees, and total operating expenses decreased 21.9% from the prior-year period to 1.11 billion rupees from 1.42 billion rupees.

Reported net income totaled a loss of 29.5 million rupees, compared with income of 14.5 million rupees in the year-earlier period.

As of Aug. 17, US$1 was equivalent to 65.43 Indian rupees.