Altur SA said its first-quarter normalized net income came to 361,220 lei, a gain from 17,100 lei in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 1.3% from 0.1% in the year-earlier period.

Total revenue increased 14.5% on an annual basis to 28.6 million lei from 24.9 million lei, and total operating expenses rose 12.6% year over year to 27.8 million lei from 24.7 million lei.

Reported net income totaled 824,390 lei, or 0 bani per share, compared to a loss of 2.6 million lei, or a loss of 0 bani per share, in the year-earlier period.

As of May 15, US$1 was equivalent to 3.88 Romanian lei.