Asahi Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 2 Indian paise per share, a gain of 50.0% from 2 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.7 million rupees, an increase of 49.0% from 1.2 million rupees in the year-earlier period.

The normalized profit margin climbed to 0.2% from 0.2% in the year-earlier period.

Total revenue rose 47.5% year over year to 884.5 million rupees from 599.5 million rupees, and total operating expenses increased 47.9% year over year to 878.5 million rupees from 594.1 million rupees.

Reported net income increased 49.0% year over year to 2.3 million rupees, or 3 paise per share, from 1.5 million rupees, or 2 paise per share.

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