Vadilal Enterprises Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 34.75 Indian rupees per share, an increase of 26.7% from 27.43 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 30.0 million rupees, a gain of 26.7% from 23.7 million rupees in the prior-year period.

The normalized profit margin increased to 1.5% from 1.3% in the year-earlier period.

Total revenue rose 11.8% year over year to 2.07 billion rupees from 1.85 billion rupees, and total operating expenses climbed 11.6% year over year to 2.02 billion rupees from 1.81 billion rupees.

Reported net income grew 25.6% on an annual basis to 32.1 million rupees, or 37.23 rupees per share, from 25.6 million rupees, or 29.63 rupees per share.

As of Aug. 13, US$1 was equivalent to 65.29 Indian rupees.