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Prestariang Q3 profit falls YOY

Prestariang Bhd. said its third-quarter normalized net income was 456,880 ringgits, a decrease of 88.1% from 3.8 million ringgits in the year-earlier period.

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

The normalized profit margin fell to 2.6% from 23.7% in the year-earlier period.

Total revenue increased 10.6% year over year to 17.8 million ringgits from 16.1 million ringgits, and total operating expenses grew 54.9% on an annual basis to 17.5 million ringgits from 11.3 million ringgits.

Reported net income decreased 85.4% year over year to 731,000 ringgits, or 0 sen per share, from 5.0 million ringgits, or 1 sen per share.

As of Nov. 23, US$1 was equivalent to 4.44 ringgits.