Indykpol Spolka Akcyjna said its first-quarter normalized net income came to 1.60 zlotys per share, a gain from 79 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.0 million zlotys, an increase from 2.5 million zlotys in the year-earlier period.

The normalized profit margin climbed to 1.7% from 0.9% in the year-earlier period.

Total revenue increased 6.5% year over year to 293.7 million zlotys from 275.6 million zlotys, and total operating expenses climbed 5.7% on an annual basis to 285.7 million zlotys from 270.4 million zlotys.

Reported net income increased 80.8% on an annual basis to 6.2 million zlotys, or 1.99 zlotys per share, from 3.4 million zlotys, or 1.10 zlotys per share.

As of May 15, US$1 was equivalent to 3.54 zlotys.