Ravi Kumar Distilleries Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 29 Indian paise per share, compared with a loss of 30 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 6.9 million rupees, compared with a loss of 7.1 million rupees in the prior-year period.

The normalized profit margin declined to negative 8.3% from negative 6.6% in the year-earlier period.

Total revenue fell 22.0% on an annual basis to 83.1 million rupees from 106.6 million rupees, and total operating expenses fell 21.2% year over year to 85.0 million rupees from 107.9 million rupees.

Reported net income came to a loss of 11.0 million rupees, or a loss of 46 paise per share, compared to a loss of 11.2 million rupees, or a loss of 47 paise per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.