Issta Lines Ltd. said its third-quarter normalized net income came to 1.99 shekels per share, an increase of 94.8% from 1.02 shekels per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.3 million shekels, a gain of 98.4% from 10.7 million shekels in the prior-year period.

The normalized profit margin climbed to 9.8% from 5.3% in the year-earlier period.

Total revenue climbed 23.3% year over year to 247.4 million shekels from 200.6 million shekels, and total operating expenses climbed 13.9% on an annual basis to 213.2 million shekels from 187.2 million shekels.

Reported net income grew 96.4% year over year to 25.9 million shekels, or 2.43 shekels per share, from 13.2 million shekels, or 1.26 shekels per share.

As of Nov. 24, US$1 was equivalent to 3.86 shekels.