Rovita SA said its first-quarter normalized net income came to 101,350 zlotys, an increase of 8.5% from 93,430 zlotys in the year-earlier period.

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

The normalized profit margin declined to 0.2% from 0.3% in the year-earlier period.

Total revenue climbed 62.1% on an annual basis to 55.3 million zlotys from 34.1 million zlotys, and total operating expenses rose 62.9% from the prior-year period to 54.9 million zlotys from 33.7 million zlotys.

Reported net income rose 87.1% on an annual basis to 131,280 zlotys, or 1 groszy per share, from 70,180 zlotys, or 1 groszy per share.

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