Urbi Desarrollos Urbanos S.A.B. de C.V. said its normalized net income for the third quarter was 3.99 Mexican pesos per share, compared with a loss of 247.15 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 617.7 million pesos, compared with a loss of 241.3 million pesos in the prior-year period.

The normalized profit margin was 599.2%.

Total revenue increased 71.9% year over year to 103.1 million pesos from 60.0 million pesos.

Reported net income came to 988.4 million pesos, or 6.38 pesos per share, compared to a loss of 382.0 million pesos, or a loss of 391.17 pesos per share, in the year-earlier period.

As of Oct. 28, US$1 was equivalent to 18.73 Mexican pesos.