Tree House Education & Accessories Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 4.02 Indian rupees per share, a gain of 31.6% from 3.05 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 151.5 million rupees, an increase of 31.5% from 115.3 million rupees in the year-earlier period.

The normalized profit margin declined to 28.1% from 28.2% in the year-earlier period.

Total revenue rose 31.9% year over year to 539.1 million rupees from 408.7 million rupees, and total operating expenses increased 21.5% on an annual basis to 266.2 million rupees from 219.1 million rupees.

Reported net income rose 30.6% on an annual basis to 160.6 million rupees, or 4.26 rupees per share, from 123.0 million rupees, or 3.26 rupees per share.

As of Aug. 6, US$1 was equivalent to 61.34 Indian rupees.