Wistil SpA said its first-quarter normalized net income came to 1.74 zlotys per share, a gain of 5.6% from 1.64 zlotys per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.7 million zlotys, a gain of 5.6% from 1.6 million zlotys in the year-earlier period.

The normalized profit margin fell to 2.5% from 2.7% in the year-earlier period.

Total revenue grew 13.0% year over year to 68.3 million zlotys from 60.4 million zlotys, and total operating expenses climbed 13.3% year over year to 65.2 million zlotys from 57.5 million zlotys.

Reported net income decreased year over year to 2.4 million zlotys, or 2.39 zlotys per share, from 2.5 million zlotys, or 2.46 zlotys per share.

As of May 13, US$1 was equivalent to 3.90 zlotys.