Metro Holdings Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to S$27.7 million, a gain from S$5.6 million in the year-earlier period.

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

The normalized profit margin increased to 64.9% from 17.8% in the year-earlier period.

Total revenue grew 36.8% year over year to S$42.7 million from S$31.2 million, and total operating expenses grew 41.9% from the prior-year period to S$48.6 million from S$34.2 million.

Reported net income rose from the prior-year period to S$37.5 million, or 5 cents per share, from S$10.1 million, or 1 cents per share.

As of Aug. 13, US$1 was equivalent to S$1.40.