Taya Investment Co. Ltd. said its first-quarter normalized net income was 439,380 shekels, compared with a loss of 656,130 shekels in the prior-year period.

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

The normalized profit margin fell to negative 5.2% from negative 4.7% in the year-earlier period.

Total revenue rose 80.5% on an annual basis to 25.1 million shekels from 13.9 million shekels, and total operating expenses rose 70.3% on an annual basis to 23.9 million shekels from 14.1 million shekels.

Reported net income came to a loss of 2.4 million shekels, compared with income of 1.6 million shekels in the year-earlier period.

As of May 25, US$1 was equivalent to 3.85 shekels.