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Berjaya Assets fiscal Q3 profit falls YOY

Berjaya Assets Bhd. said its normalized net income for the fiscal third quarter ended March 31 came to 7.9 million ringgits, a decline of 66.6% from 23.6 million ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 11.2% from 22.1% in the year-earlier period.

Total revenue totaled 106.1 million ringgits, compared with 106.5 million ringgits in the prior-year period, and total operating expenses decreased from the prior-year period to 80.6 million ringgits from 82.0 million ringgits.

Reported net income totaled 19.0 million ringgits, or 1 sen per share, compared to a loss of 12.3 million ringgits, or a loss of 1 sen per share, in the prior-year period.

As of May 26, US$1 was equivalent to 3.64 ringgits.