Cindrella Hotels Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 862,500 rupees, a gain of 37.5% from 627,500 rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 7.8% from 7.5% in the year-earlier period.

Total revenue rose 31.5% on an annual basis to 11.0 million rupees from 8.4 million rupees, and total operating expenses grew 33.7% from the prior-year period to 9.5 million rupees from 7.1 million rupees.

Reported net income totaled 950,000 rupees, compared with 694,000 rupees in the year-earlier period.

As of July 15, US$1 was equivalent to 63.50 Indian rupees.