ALBUQUERQUE, N.M. — ALBUQUERQUE, N.M. — PNM Resources Inc. (PNM) on Tuesday reported profit of $47.3 million in its first quarter.

On a per-share basis, the Albuquerque, New Mexico-based company said it had net income of 52 cents. Earnings, adjusted for non-recurring gains, came to 41 cents per share.

The power company posted revenue of $436.9 million in the period.