S.C. Boromir Prod SA said its first-quarter normalized net income amounted to 1.1 million lei, a gain from 266,850 lei in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 2.4% from 1.3% in the year-earlier period.

Total revenue increased on an annual basis to 45.5 million lei from 20.1 million lei, and total operating expenses rose from the prior-year period to 43.7 million lei from 19.7 million lei.

Reported net income grew from the prior-year period to 1.8 million lei, or 1 bani per share, from 428,160 lei, or 0 bani per share.

As of May 18, US$1 was equivalent to 3.92 Romanian lei.