Masterkool International Public Company Ltd said its third-quarter normalized net income amounted to a loss of 14.3 million baht, compared with income of 772,150 baht 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 negative 16.4% from 1.0% in the year-earlier period.

Total revenue increased 20.9% on an annual basis to 95.4 million baht from 78.9 million baht, and total operating expenses grew 54.0% on an annual basis to 117.2 million baht from 76.1 million baht.

Reported net income totaled a loss of 17.2 million baht, or a loss of 5 satang per share, compared to income of 709,220 baht, or 0 satang per share, in the year-earlier period.

As of Nov. 16, US$1 was equivalent to 35.96 baht.