Negotium International Trade Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 68,200 rupees, a decrease of 49.6% from 135,270 rupees in the prior-year period.

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

The normalized profit margin declined to 1.6% from 5.1% in the year-earlier period.

Total revenue grew 58.4% year over year to 4.2 million rupees from 2.6 million rupees, and total operating expenses increased 87.7% on an annual basis to 4.6 million rupees from 2.4 million rupees.

Reported net income declined 49.6% from the prior-year period to 109,120 rupees, or 0 paise per share, from 216,420 rupees, or 1 paise per share.

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