S&C Engine Group Ltd. said its normalized net income for the first quarter amounted to 181.15 South Korean won per share, an increase from 66.66 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.51 billion won, a gain of 48.2% from 5.74 billion won in the year-earlier period.

The normalized profit margin increased to 16.9% from 12.3% in the year-earlier period.

Total revenue grew 7.6% on an annual basis to 50.34 billion won from 46.77 billion won, and total operating expenses increased year over year to 36.31 billion won from 35.60 billion won.

Reported net income increased 74.5% on an annual basis to 10.63 billion won, or 226.36 won per share, from 6.09 billion won, or 70.76 won per share.

As of June 1, US$1 was equivalent to 1,115.34 South Korean won.