First Winner Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 49.5 million rupees, compared with a loss of 80.9 million rupees in the prior-year period.

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

Reported net income came to a loss of 79.1 million rupees, compared with a loss of 129.4 million rupees in the year-earlier period.

As of July 15, US$1 was equivalent to 63.50 Indian rupees.