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Sapura Industrial fiscal Q3 profit falls YOY

Sapura Industrial Bhd. said its normalized net income for the fiscal third quarter ended Oct. 31 came to 2 Malaysian sen per share, a decline of 67.5% from 6 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.4 million ringgits, a decrease of 67.5% from 4.4 million ringgits in the prior-year period.

The normalized profit margin dropped to 2.6% from 6.2% in the year-earlier period.

Total revenue fell 23.4% year over year to 55.0 million ringgits from 71.8 million ringgits, and total operating expenses fell 17.9% from the prior-year period to 52.9 million ringgits from 64.5 million ringgits.

Reported net income fell 69.0% from the prior-year period to 1.7 million ringgits, or 2 sen per share, from 5.3 million ringgits, or 7 sen per share.

As of Dec. 9, US$1 was equivalent to 3.48 ringgits.