Rajesh Exports Ltd said its normalized net income for the fiscal first quarter ended June 30 was 2.50 Indian rupees per share, a gain of 9.3% from 2.29 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 739.7 million rupees, a gain of 9.5% from 675.8 million rupees in the prior-year period.

The normalized profit margin dropped to 0.9% from 1.2% in the year-earlier period.

Total revenue increased 43.6% year over year to 79.05 billion rupees from 55.03 billion rupees, and total operating expenses grew 43.5% year over year to 76.70 billion rupees from 53.44 billion rupees.

Reported net income increased 9.5% from the prior-year period to 1.18 billion rupees, or 4.00 rupees per share, from 1.08 billion rupees, or 3.66 rupees per share.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.