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Daqin Railway Q3 profit climbs 161.7% YOY

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Daqin Railway Q3 profit climbs 161.7% YOY

Daqin Railway Co. Ltd. said its normalized net income for the third quarter amounted to 20 fen per share, a gain of 166.1% from 8 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.93 billion yuan, a gain of 161.7% from 1.12 billion yuan in the year-earlier period.

The normalized profit margin increased to 20.4% from 10.8% in the year-earlier period.

Total revenue grew 38.8% year over year to 14.38 billion yuan from 10.37 billion yuan, and total operating expenses rose 12.5% on an annual basis to 10.32 billion yuan from 9.17 billion yuan.

Reported net income rose 145.9% on an annual basis to 3.61 billion yuan, or 25 fen per share, from 1.47 billion yuan, or 10 fen per share.

As of Oct. 25, US$1 was equivalent to 6.64 yuan.