International Co. for Agricultural Crops said its normalized net income for the fiscal third quarter ended March 31 came to 3.9 million pounds, compared with a loss of 232,980 pounds in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 2.9% from negative 0.2% in the year-earlier period.

Total revenue rose 41.9% year over year to 133.2 million pounds from 93.8 million pounds, and total operating expenses grew 34.5% from the prior-year period to 124.0 million pounds from 92.2 million pounds.

Reported net income came to 6.0 million pounds, or 7 piastres per share, compared to a loss of 196,760 pounds, or a loss of 0 piastres per share, in the prior-year period.

As of May 13, US$1 was equivalent to 8.88 Egyptian pounds.