Public Joint Stock Co. Abrau-Durso said its first-half normalized net income was $140.2 million, compared with a loss of $381,980 in the year-earlier period.

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

Total revenue increased 13.2% year over year to $1.72 billion from $1.52 billion, and total operating expenses increased 11.1% from the prior-year period to $1.70 billion from $1.53 billion.

Reported net income came to a loss of $231.9 million, compared with a loss of $90.4 million in the prior-year period.