Al Shaheer Corp. Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 was 32 Pakistani paisa per share, an increase of 4.9% from 30 paisa per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 44.4 million rupees, an increase of 68.1% from 26.4 million rupees in the year-earlier period.

The normalized profit margin increased to 2.5% from 2.3% in the year-earlier period.

Total revenue rose 68.9% on an annual basis to 1.94 billion rupees from 1.15 billion rupees, and total operating expenses increased 73.0% year over year to 1.88 billion rupees from 1.08 billion rupees.

Reported net income grew 49.9% from the prior-year period to 75.2 million rupees, or 54 paisa per share, from 50.2 million rupees, or 58 paisa per share.

As of Oct. 30, US$1 was equivalent to 105.51 Pakistani rupees.