Compañía Agricola San Felipe S.A. said its normalized net income for the third quarter came to 16.39 Colombian pesos per share, an increase from 5.81 pesos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 983.2 million pesos, an increase from 348.8 million pesos in the year-earlier period.

The normalized profit margin rose to 28.5% from 15.0% in the year-earlier period.

Total revenue climbed 48.4% year over year to 3.44 billion pesos from 2.32 billion pesos, and total operating expenses grew 5.9% from the prior-year period to 1.89 billion pesos from 1.79 billion pesos.

Reported net income rose year over year to 1.18 billion pesos, or 19.72 pesos per share, from 316.6 million pesos, or 5.28 pesos per share.

As of Nov. 18, US$1 was equivalent to 3,169.01 Colombian pesos.