Cosmax Inc. said its first-quarter normalized net income was 477.61 South Korean won per share, an increase of 74.7% from 273.32 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.30 billion won, an increase of 74.8% from 2.46 billion won in the year-earlier period.

The normalized profit margin declined to 3.6% from 7.4% in the year-earlier period.

Total revenue grew on an annual basis to 116.36 billion won from 33.12 billion won, and total operating expenses climbed from the prior-year period to 108.74 billion won from 29.15 billion won.

Reported net income grew 40.4% year over year to 4.47 billion won, or 496.82 won per share, from 3.18 billion won, or 354.00 won per share.

As of May 14, US$1 was equivalent to 1,090.69 South Korean won.