Kaset Thai International Sugar Corp. Public Company Ltd said its second-quarter normalized net income came to 1 satang per share, a decline of 85.5% from 10 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 56.4 million baht, a decline of 84.9% from 374.1 million baht in the prior-year period.

The normalized profit margin fell to 1.1% from 7.2% in the year-earlier period.

Total revenue grew on an annual basis to 5.38 billion baht from 5.23 billion baht, and total operating expenses rose 13.5% year over year to 5.21 billion baht from 4.59 billion baht.

Reported net income decreased 80.5% year over year to 115.8 million baht, or 3 satang per share, from 593.9 million baht, or 16 satang per share.

As of Aug. 11, US$1 was equivalent to 35.39 baht.