Renaissance Jewellery Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 1.37 Indian rupees per share, compared with a loss of 4 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.0 million rupees, compared with a loss of 820,630 rupees in the year-earlier period.

The normalized profit margin increased to 1.2% from negative 0.0% in the year-earlier period.

Total revenue increased 11.0% on an annual basis to 2.22 billion rupees from 2.00 billion rupees, and total operating expenses grew 16.7% from the prior-year period to 2.17 billion rupees from 1.86 billion rupees.

Reported net income totaled 23.8 million rupees, or 1.25 rupees per share, compared to a loss of 2.9 million rupees, or a loss of 15 paise per share, in the prior-year period.

As of Aug. 7, US$1 was equivalent to 61.24 Indian rupees.