Thai Vegetable Oil Public Company Ltd said its normalized net income for the third quarter amounted to 59 satang per share, an increase from 22 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 480.7 million baht, an increase from 180.8 million baht in the year-earlier period.

The normalized profit margin climbed to 7.5% from 2.8% in the year-earlier period.

Total revenue fell on an annual basis to 6.39 billion baht from 6.52 billion baht, and total operating expenses declined 6.0% from the prior-year period to 5.87 billion baht from 6.24 billion baht.

Reported net income increased year over year to 659.2 million baht, or 82 satang per share, from 255.3 million baht, or 32 satang per share.

As of Nov. 11, US$1 was equivalent to 35.84 baht.