Inter Cars SA said its first-quarter normalized net income came to 1.85 zlotys per share, a gain of 6.5% from 1.73 zlotys per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.2 million zlotys, a gain of 6.5% from 24.6 million zlotys in the prior-year period.

The normalized profit margin dropped to 2.7% from 2.8% in the year-earlier period.

Total revenue climbed 12.4% year over year to 982.6 million zlotys from 874.0 million zlotys, and total operating expenses grew 13.0% from the prior-year period to 938.1 million zlotys from 829.9 million zlotys.

Reported net income increased 7.2% from the prior-year period to 35.8 million zlotys, or 2.53 zlotys per share, from 33.4 million zlotys, or 2.36 zlotys per share.

As of May 15, US$1 was equivalent to 3.54 zlotys.