Xinjiang Tianrun Dairy Co. Ltd. said its first-quarter normalized net income came to 13 fen per share, a gain from 4 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 13.3 million yuan, a gain from 3.2 million yuan in the year-earlier period.

The normalized profit margin rose to 7.7% from 3.7% in the year-earlier period.

Total revenue climbed year over year to 189.2 million yuan from 85.8 million yuan, and total operating expenses rose year over year to 164.1 million yuan from 79.0 million yuan.

Reported net income increased year over year to 19.2 million yuan, or 19 fen per share, from 4.9 million yuan, or 6 fen per share.

As of April 25, US$1 was equivalent to 6.49 yuan.