Winsome Textile Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 61 Indian paise per share, a decline of 57.1% from 1.41 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.0 million rupees, a decline of 57.1% from 28.0 million rupees in the year-earlier period.

The normalized profit margin dropped to 0.8% from 2.0% in the year-earlier period.

Total revenue climbed 16.2% year over year to 1.60 billion rupees from 1.37 billion rupees, and total operating expenses increased 19.1% on an annual basis to 1.44 billion rupees from 1.21 billion rupees.

Reported net income declined 57.1% year over year to 19.2 million rupees, or 97 paise per share, from 44.8 million rupees, or 2.26 rupees per share.

As of Feb. 9, US$1 was equivalent to 67.92 Indian rupees.