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Padini Holdings fiscal Q3 profit climbs 38.9% YOY

Padini Holdings Bhd. said its normalized net income for the fiscal third quarter ended March 31 came to 4 Malaysian sen per share, an increase of 38.9% from 3 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 24.4 million ringgits, an increase of 38.9% from 17.5 million ringgits in the prior-year period.

The normalized profit margin rose to 8.6% from 8.0% in the year-earlier period.

Total revenue increased 29.6% year over year to 283.6 million ringgits from 218.9 million ringgits, and total operating expenses increased 28.2% on an annual basis to 246.5 million ringgits from 192.3 million ringgits.

Reported net income increased 26.0% on an annual basis to 26.6 million ringgits, or 4 sen per share, from 21.1 million ringgits, or 3 sen per share.

As of May 19, US$1 was equivalent to 3.61 ringgits.