Aruj Industries Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 1.14 Pakistani rupees per share, a gain of 57.6% from 72 paisa per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.0 million rupees, a gain of 58.2% from 4.4 million rupees in the year-earlier period.

The normalized profit margin dropped to 3.7% from 3.8% in the year-earlier period.

Total revenue rose 61.3% year over year to 186.3 million rupees from 115.5 million rupees, and total operating expenses climbed 61.7% on an annual basis to 170.6 million rupees from 105.5 million rupees.

Reported net income grew 60.6% year over year to 7.4 million rupees, or 1.20 rupees per share, from 4.6 million rupees, or 75 paisa per share.

As of Oct. 30, US$1 was equivalent to 103.05 Pakistani rupees.