Dhanada Corp. Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of 7 Indian paise per share, compared with a loss of 3 paise per share in the year-earlier 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 1.9 million rupees in the year-earlier period.

The normalized profit margin dropped to negative 16.9% from negative 7.9% in the year-earlier period.

Total revenue decreased on an annual basis to 23.7 million rupees from 24.5 million rupees, and total operating expenses rose 11.9% year over year to 24.2 million rupees from 21.6 million rupees.

Reported net income came to a loss of 6.6 million rupees, or a loss of 12 paise per share, compared to a loss of 3.3 million rupees, or a loss of 6 paise per share, in the prior-year period.

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