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Thai Steel Cable fiscal Q3 profit climbs 61.7% YOY

Thai Steel Cable Public Company Ltd said its normalized net income for the fiscal third quarter ended June 30 came to 10 satang per share, an increase of 61.7% from 6 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.1 million baht, an increase of 61.7% from 16.1 million baht in the year-earlier period.

The normalized profit margin increased to 3.8% from 2.5% in the year-earlier period.

Total revenue increased 7.1% year over year to 689.9 million baht from 644.3 million baht, and total operating expenses increased on an annual basis to 644.0 million baht from 614.4 million baht.

Reported net income increased 55.3% year over year to 40.1 million baht, or 15 satang per share, from 25.9 million baht, or 10 satang per share.

As of Aug. 11, US$1 was equivalent to 35.39 baht.