The Ruby Mills Ltd said its normalized net income for the fiscal first quarter ended June 30 was 12.85 Indian rupees per share, a gain from 2.66 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 214.9 million rupees, an increase from 41.9 million rupees in the prior-year period.

The normalized profit margin climbed to 42.0% from 10.6% in the year-earlier period.

Total revenue grew 29.1% year over year to 511.7 million rupees from 396.4 million rupees, and total operating expenses increased 25.5% from the prior-year period to 426.6 million rupees from 339.9 million rupees.

Reported net income grew on an annual basis to 263.2 million rupees, or 15.74 rupees per share, from 55.2 million rupees, or 3.50 rupees per share.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.