Rovita SA said its first-quarter normalized net income amounted to 241,510 zlotys, a gain from 101,350 zlotys in the prior-year period.

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

The normalized profit margin increased to 0.3% from 0.2% in the year-earlier period.

Total revenue rose 60.0% on an annual basis to 88.4 million zlotys from 55.3 million zlotys, and total operating expenses increased 59.9% from the prior-year period to 87.7 million zlotys from 54.9 million zlotys.

Reported net income rose on an annual basis to 293,310 zlotys, or 2 groszy per share, from 131,280 zlotys, or 1 groszy per share.

As of May 13, US$1 was equivalent to 3.90 zlotys.