Pylon SA said its normalized net income for the first quarter came to 22,570 zlotys, an increase of 79.1% from 12,600 zlotys in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 3.9% from 3.2% in the year-earlier period.

Total revenue rose 45.2% year over year to 573,790 zlotys from 395,170 zlotys, and total operating expenses increased 42.8% year over year to 523,800 zlotys from 366,740 zlotys.

Reported net income grew year over year to 35,770 zlotys, or 0 groszy per share, from 14,560 zlotys, or 0 groszy per share.

As of May 15, US$1 was equivalent to 3.54 zlotys.