Taiwan Paiho Ltd said its first-quarter normalized net income amounted to 97 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 99 cents per share.

EPS increased 51.8% year over year from 64 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$288.8 million, a gain of 51.7% from NT$190.3 million in the year-earlier period.

The normalized profit margin climbed to 11.6% from 8.9% in the year-earlier period.

Total revenue rose 16.3% on an annual basis to NT$2.50 billion from NT$2.15 billion, and total operating expenses rose 11.1% from the prior-year period to NT$1.95 billion from NT$1.75 billion.

Reported net income grew 53.0% from the prior-year period to NT$378.7 million, or NT$1.27 per share, from NT$247.6 million, or 83 cents per share.

As of May 13, US$1 was equivalent to NT$32.68.