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Sapura Industrial fiscal Q2 profit falls YOY

Sapura Industrial Berhad said its normalized net income for the fiscal second quarter ended July 31 came to 114,880 ringgits, a decline of 96.3% from 3.1 million ringgits 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 0.2% from 4.8% in the year-earlier period.

Total revenue fell 26.1% on an annual basis to 48.3 million ringgits from 65.4 million ringgits, and total operating expenses decreased 21.0% from the prior-year period to 48.1 million ringgits from 60.9 million ringgits.

Reported net income fell 97.7% from the prior-year period to 87,330 ringgits, or 0 sen per share, from 3.8 million ringgits, or 5 sen per share.

As of Sept. 17, US$1 was equivalent to 4.23 ringgits.