Helio SA said its normalized net income for the fiscal first quarter ended Sept. 30 was a loss of 9 groszy per share, compared with a loss of 7 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 454,380 zlotys, compared with a loss of 330,630 zlotys in the prior-year period.

The normalized profit margin rose to negative 2.6% from negative 2.6% in the year-earlier period.

Total revenue grew 40.3% on an annual basis to 17.7 million zlotys from 12.6 million zlotys, and total operating expenses grew 40.8% on an annual basis to 18.3 million zlotys from 13.0 million zlotys.

Reported net income came to a loss of 705,000 zlotys, or a loss of 14 groszy per share, compared to a loss of 505,000 zlotys, or a loss of 10 groszy per share, in the year-earlier period.

As of Nov. 16, US$1 was equivalent to 3.96 zlotys.