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QL Resources fiscal Q1 profit climbs YOY

QL Resources Berhad said its normalized net income for the fiscal first quarter ended June 30 amounted to 2 Malaysian sen per share, an increase from 2 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 32.2 million ringgits, a gain from 31.6 million ringgits in the year-earlier period.

The normalized profit margin rose to 4.9% from 4.8% in the year-earlier period.

Total revenue came to 655.3 million ringgits, compared with 653.6 million ringgits in the prior-year period, and total operating expenses totaled 598.2 million ringgits, compared with 604.1 million ringgits in the year-earlier period.

Reported net income increased from the prior-year period to 40.9 million ringgits, or 3 sen per share, from 40.4 million ringgits, or 2 sen per share.

As of Aug. 26, US$1 was equivalent to 4.25 ringgits.