Lovable Lingerie Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 5.21 Indian rupees per share, a decline of 14.8% from 6.12 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 87.5 million rupees, a decrease of 14.8% from 102.8 million rupees in the prior-year period.

The normalized profit margin fell to 14.8% from 18.5% in the year-earlier period.

Total revenue climbed 6.5% year over year to 593.1 million rupees from 556.9 million rupees, and total operating expenses rose 7.0% year over year to 483.0 million rupees from 451.3 million rupees.

Reported net income decreased 20.9% from the prior-year period to 103.1 million rupees, or 6.14 rupees per share, from 130.3 million rupees, or 7.76 rupees per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.