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Rakhat Q3 profit falls YOY

Rakhat JSC said its third-quarter normalized net income was 99.34 tenge per share, a decrease of 34.4% from 151.44 tenge per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 357.6 million tenge, a decline of 34.4% from 545.2 million tenge in the year-earlier period.

The normalized profit margin fell to 5.0% from 6.4% in the year-earlier period.

Total revenue declined 14.5% year over year to 7.33 billion tenge from 8.57 billion tenge, and total operating expenses declined 9.4% on an annual basis to 6.94 billion tenge from 7.66 billion tenge.

Reported net income decreased 33.1% from the prior-year period to 466.9 million tenge, or 129.68 tenge per share, from 697.7 million tenge, or 193.81 tenge per share.

As of Nov. 25, US$1 was equivalent to 306.78 tenge.