Tianqi Lithium Industries Inc. said its first-quarter normalized net income amounted to 37.2 million yuan, an increase of 883.1% from 3.8 million yuan in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to 10.4% from 1.4% in the year-earlier period.
Total revenue climbed 29.1% year over year to 357.7 million yuan from 277.1 million yuan, and total operating expenses climbed 12.6% from the prior-year period to 267.7 million yuan from 237.6 million yuan.
Reported net income totaled 29.8 million yuan, or 3 fen per share, compared with a loss of 1.5 million yuan, or a loss of 0 fen per share, in the prior-year period.
As of April 16, US$1 was equivalent to 6.19 yuan.