Carozzi SA said its first-quarter normalized net income amounted to 28.88 Chilean pesos per share, an increase of 47.9% from 19.52 pesos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.44 billion pesos, a gain of 47.9% from 4.36 billion pesos in the year-earlier period.

The normalized profit margin increased to 4.2% from 2.9% in the year-earlier period.

Total revenue climbed 4.9% year over year to 155.15 billion pesos from 147.86 billion pesos, and total operating expenses climbed from the prior-year period to 136.89 billion pesos from 132.91 billion pesos.

Reported net income increased 32.4% on an annual basis to 8.31 billion pesos, or 37.27 pesos per share, from 6.28 billion pesos, or 28.15 pesos per share.

As of May 29, US$1 was equivalent to 619.00 Chilean pesos.