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Pranda Jewelry swings to loss in Q3

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Pranda Jewelry swings to loss in Q3

Pranda Jewelry Public Co. Ltd said its normalized net income for the third quarter was a loss of 11 satang per share, compared with 9 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 42.1 million baht, compared with income of 34.9 million baht in the year-earlier period.

The normalized profit margin declined to negative 6.4% from 4.7% in the year-earlier period.

Total revenue declined 12.0% year over year to 658.8 million baht from 748.7 million baht, and total operating expenses declined 8.8% on an annual basis to 695.2 million baht from 762.4 million baht.

Reported net income totaled a loss of 71.4 million baht, or a loss of 18 satang per share, compared to income of 26.7 million baht, or 7 satang per share, in the prior-year period.

As of Nov. 10, US$1 was equivalent to 35.21 baht.