The General Tyre and Rubber Co. of Pakistan Ltd said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 2.73 Pakistani rupees per share, a gain from 92 paisa per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 162.7 million rupees, a gain from 55.1 million rupees in the year-earlier period.

The normalized profit margin increased to 7.6% from 3.0% in the year-earlier period.

Total revenue climbed 18.4% year over year to 2.15 billion rupees from 1.82 billion rupees, and total operating expenses rose 13.1% from the prior-year period to 1.87 billion rupees from 1.65 billion rupees.

Reported net income increased from the prior-year period to 180.3 million rupees, or 3.02 rupees per share, from 56.7 million rupees, or 95 paisa per share.

As of Oct. 29, US$1 was equivalent to 105.30 Pakistani rupees.