Ismail Industries Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 1.23 Pakistani rupees per share, an increase of 26.5% from 97 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 61.9 million rupees, a gain of 26.5% from 49.0 million rupees in the prior-year period.

The normalized profit margin climbed to 2.4% from 2.2% in the year-earlier period.

Total revenue climbed 15.0% on an annual basis to 2.55 billion rupees from 2.21 billion rupees, and total operating expenses climbed 13.8% year over year to 2.27 billion rupees from 2.00 billion rupees.

Reported net income grew 26.9% on an annual basis to 72.7 million rupees, or 1.44 rupees per share, from 57.3 million rupees, or 1.13 rupees per share.

As of Oct. 29, US$1 was equivalent to 103.05 Pakistani rupees.