Thiensurat Public Company Ltd said its first-quarter normalized net income amounted to 4 satang per share, compared with 4 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 19.4 million baht, a gain of 32.0% from 14.7 million baht in the prior-year period.

The normalized profit margin climbed to 5.8% from 5.8% in the year-earlier period.

Total revenue climbed 29.2% year over year to 327.2 million baht from 253.2 million baht, and total operating expenses grew 27.3% on an annual basis to 302.2 million baht from 237.4 million baht.

Reported net income grew 45.1% on an annual basis to 24.6 million baht, or 6 satang per share, from 17.0 million baht, or 5 satang per share.

As of May 14, US$1 was equivalent to 33.48 baht.