Service Industries Ltd said its normalized net income for the first quarter amounted to 17.66 Pakistani rupees per share, a gain of 16.9% from 15.10 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 212.4 million rupees, an increase of 17.0% from 181.6 million rupees in the year-earlier period.

The normalized profit margin increased to 5.0% from 4.3% in the year-earlier period.

Total revenue increased year over year to 4.25 billion rupees from 4.19 billion rupees, and total operating expenses rose on an annual basis to 3.85 billion rupees from 3.81 billion rupees.

Reported net income grew 18.7% on an annual basis to 251.7 million rupees, or 20.92 rupees per share, from 212.1 million rupees, or 17.63 rupees per share.

As of April 27, US$1 was equivalent to 104.81 Pakistani rupees.