Associated Alcohols & Breweries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.75 Indian rupees per share, a gain of 39.2% from 1.26 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 31.7 million rupees, a gain of 39.4% from 22.7 million rupees in the prior-year period.

The normalized profit margin declined to 4.0% from 4.1% in the year-earlier period.

Total revenue climbed 42.0% on an annual basis to 795.0 million rupees from 560.0 million rupees, and total operating expenses increased 45.3% year over year to 724.4 million rupees from 498.5 million rupees.

Reported net income increased from the prior-year period to 39.9 million rupees, or 2.21 rupees per share, from 16.9 million rupees, or 94 paise per share.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.