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J.ESTINA Q3 profit falls YOY

J.ESTINA Co. Ltd. said its third-quarter normalized net income came to 30.70 South Korean won per share, a decrease of 73.9% from 117.63 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 506.7 million won, a decrease of 71.7% from 1.79 billion won in the year-earlier period.

The normalized profit margin dropped to 1.4% from 4.3% in the year-earlier period.

Total revenue decreased 10.6% year over year to 36.75 billion won from 41.11 billion won, and total operating expenses declined 6.5% on an annual basis to 35.88 billion won from 38.36 billion won.

Reported net income declined 78.8% on an annual basis to 477.0 million won, or 28.91 won per share, from 2.25 billion won, or 148.00 won per share.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.