Associated Alcohols & Breweries Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 2.02 Indian rupees per share, an increase of 15.4% from 1.75 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 36.5 million rupees, a gain of 15.2% from 31.7 million rupees in the year-earlier period.

The normalized profit margin increased to 5.0% from 4.0% in the year-earlier period.

Total revenue decreased 8.0% on an annual basis to 731.3 million rupees from 795.0 million rupees, and total operating expenses fell 9.3% from the prior-year period to 656.8 million rupees from 724.4 million rupees.

Reported net income decreased 40.7% year over year to 23.7 million rupees, or 1.31 rupees per share, from 39.9 million rupees, or 2.21 rupees per share.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.