SRS Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 42 Indian paise per share, an increase from 16 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 115.8 million rupees, a gain from 44.8 million rupees in the prior-year period.

The normalized profit margin climbed to 1.1% from 0.5% in the year-earlier period.

Total revenue grew on an annual basis to 10.21 billion rupees from 9.85 billion rupees, and total operating expenses increased on an annual basis to 9.86 billion rupees from 9.68 billion rupees.

Reported net income rose year over year to 165.6 million rupees, or 60 paise per share, from 42.4 million rupees, or 15 paise per share.

As of Aug. 7, US$1 was equivalent to 61.24 Indian rupees.