Erawan Group PCL said its normalized net income for the first quarter was 6 satang per share, a gain of 35.4% from 4 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 144.0 million baht, an increase of 36.2% from 105.7 million baht in the year-earlier period.

The normalized profit margin rose to 9.3% from 7.3% in the year-earlier period.

Total revenue grew 6.5% year over year to 1.55 billion baht from 1.46 billion baht, and total operating expenses rose from the prior-year period to 1.22 billion baht from 1.17 billion baht.

Reported net income rose 36.9% year over year to 191.1 million baht, or 8 satang per share, from 139.6 million baht, or 6 satang per share.

As of May 12, US$1 was equivalent to 35.33 baht.