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Kang Yong Electric fiscal Q1 profit falls YOY

Kang Yong Electric PCL said its normalized net income for the fiscal first quarter ended June 30 came to 4.87 baht per share, a decrease of 16.6% from 5.83 baht per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 107.0 million baht, a decrease of 16.6% from 128.4 million baht in the prior-year period.

The normalized profit margin fell to 4.4% from 5.1% in the year-earlier period.

Total revenue decreased year over year to 2.43 billion baht from 2.50 billion baht, and total operating expenses totaled 2.29 billion baht, compared with 2.31 billion baht in the prior-year period.

Reported net income fell 16.6% year over year to 137.1 million baht, or 6.23 baht per share, from 164.5 million baht, or 7.48 baht per share.

As of Aug. 13, US$1 was equivalent to 31.96 baht.