Zodiac JRD MKJ Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 37 Indian paise per share, a decrease from 38 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 1.9 million rupees, a decrease from 2.0 million rupees in the year-earlier period.

The normalized profit margin rose to 4.5% from 4.1% in the year-earlier period.

Total revenue fell 11.1% on an annual basis to 42.8 million rupees from 48.2 million rupees, and total operating expenses fell 8.9% year over year to 41.6 million rupees from 45.7 million rupees.

Reported net income grew year over year to 2.7 million rupees, or 51 paise per share, from 2.5 million rupees, or 49 paise per share.

As of Sept. 4, US$1 was equivalent to 66.69 Indian rupees.