Vadilal Enterprises Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 27.43 Indian rupees per share, a gain from 8.18 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 23.7 million rupees, an increase from 7.1 million rupees in the prior-year period.

The normalized profit margin rose to 1.3% from 0.5% in the year-earlier period.

Total revenue increased 18.0% on an annual basis to 1.85 billion rupees from 1.57 billion rupees, and total operating expenses rose 16.2% year over year to 1.81 billion rupees from 1.56 billion rupees.

Reported net income rose from the prior-year period to 25.6 million rupees, or 29.63 rupees per share, from 7.6 million rupees, or 8.84 rupees per share.

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