Bodegas Riojanas SA said its normalized net income for the first quarter came to €110,630, a rise of 48.7% from €74,380 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 4.8% from 3.8% in the year-earlier period.
Total revenue increased 19.2% on an annual basis to €2.3 million from €1.9 million, and total operating expenses climbed 18.9% from the prior-year period to €1.9 million from €1.6 million.
Reported net income totaled €139,000, compared with €94,000 in the prior-year period.
