Ramboda Falls PLC said its normalized net income for the fiscal first quarter ended June 30 amounted to 14 Sri Lankan cents per share, a gain from 5 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.8 million rupees, an increase from 968,370 rupees in the prior-year period.

The normalized profit margin increased to 13.9% from 5.4% in the year-earlier period.

Total revenue rose 13.5% year over year to 20.3 million rupees from 17.9 million rupees, and total operating expenses decreased on an annual basis to 15.2 million rupees from 15.6 million rupees.

Reported net income rose from the prior-year period to 3.9 million rupees, or 20 cents per share, from 1.3 million rupees, or 6 cents per share.

As of Aug. 13, US$1 was equivalent to 133.88 Sri Lankan rupees.