Cantabil Retail India Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 12 Indian paise per share, compared with a loss of 72 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.9 million rupees, compared with a loss of 11.8 million rupees in the year-earlier period.

The normalized profit margin rose to 0.7% from negative 5.7% in the year-earlier period.

Total revenue grew 27.8% year over year to 266.7 million rupees from 208.7 million rupees, and total operating expenses rose 15.4% from the prior-year period to 251.7 million rupees from 218.0 million rupees.

Reported net income totaled 2.4 million rupees, or 15 paise per share, compared to a loss of 18.8 million rupees, or a loss of 1.15 rupees per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.