M.K. Exim (India) Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 928,130 rupees, an increase of 37.0% from 677,500 rupees in the prior-year period.

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

The normalized profit margin dropped to 1.7% from 2.2% in the year-earlier period.

Total revenue climbed 75.7% on an annual basis to 54.3 million rupees from 30.9 million rupees, and total operating expenses rose 75.9% from the prior-year period to 52.4 million rupees from 29.8 million rupees.

Reported net income grew 37.0% from the prior-year period to 1.5 million rupees, or 21 paise per share, from 1.1 million rupees.

As of Aug. 1, US$1 was equivalent to 60.84 Indian rupees.