G.M.Breweries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 9.66 Indian rupees per share, a gain from 2.89 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 141.3 million rupees, an increase from 42.2 million rupees in the year-earlier period.

The normalized profit margin increased to 17.4% from 5.6% in the year-earlier period.

Total revenue climbed 7.4% on an annual basis to 812.2 million rupees from 756.4 million rupees, and total operating expenses decreased 9.9% from the prior-year period to 612.4 million rupees from 679.7 million rupees.

Reported net income grew year over year to 158.9 million rupees, or 10.86 rupees per share, from 45.6 million rupees, or 3.12 rupees per share.

As of July 23, US$1 was equivalent to 63.86 Indian rupees.