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Power Root fiscal Q3 profit falls YOY

Power Root Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 2.5 million ringgits, a decrease of 56.6% from 5.9 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 dropped to 2.9% from 6.1% in the year-earlier period.

Total revenue declined 7.9% on an annual basis to 88.8 million ringgits from 96.4 million ringgits, and total operating expenses came to 84.1 million ringgits, compared with 84.7 million ringgits in the year-earlier period.

Reported net income fell 12.3% on an annual basis to 8.5 million ringgits, or 3 sen per share, from 9.7 million ringgits, or 3 sen per share.

As of Feb. 24, US$1 was equivalent to 4.24 ringgits.