Aarvee Denims and Exports Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 76 Indian paise per share, compared with a loss of 42 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.8 million rupees, compared with a loss of 9.9 million rupees in the prior-year period.

The normalized profit margin climbed to 0.8% from negative 0.6% in the year-earlier period.

Total revenue climbed 23.6% on an annual basis to 2.15 billion rupees from 1.74 billion rupees, and total operating expenses increased 21.9% year over year to 2.05 billion rupees from 1.68 billion rupees.

Reported net income totaled 21.8 million rupees, or 93 paise per share, compared to a loss of 16.2 million rupees, or a loss of 69 paise per share, in the prior-year period.

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