Bombay Cycle & Motor Agency Ltd said its normalized net income for the fiscal first quarter ended June 30 was 20.74 Indian rupees per share, an increase of 33.3% from 15.56 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 4.1 million rupees, an increase of 32.0% from 3.1 million rupees in the prior-year period.

The normalized profit margin rose to 23.0% from 20.6% in the year-earlier period.

Total revenue grew 17.8% on an annual basis to 17.9 million rupees from 15.2 million rupees, and total operating expenses climbed 10.2% from the prior-year period to 14.1 million rupees from 12.8 million rupees.

Reported net income rose 40.6% from the prior-year period to 4.5 million rupees, or 22.63 rupees per share, from 3.2 million rupees, or 15.93 rupees per share.

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