Dhanada Corp. Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 7 Indian paise per share, compared with a loss of 3 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 a loss of 4.0 million rupees, compared with a loss of 1.7 million rupees in the prior-year period.

The normalized profit margin declined to negative 20.7% from negative 8.4% in the year-earlier period.

Total revenue decreased 6.0% on an annual basis to 19.2 million rupees from 20.4 million rupees, and total operating expenses grew 6.6% year over year to 20.1 million rupees from 18.8 million rupees.

Reported net income totaled a loss of 6.5 million rupees, or a loss of 12 paise per share, compared to a loss of 3.0 million rupees, or a loss of 5 paise per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.