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Nova MSC fiscal Q3 profit climbs 48.7% YOY

Nova MSC Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 146,880 ringgits, a gain of 48.7% from 98,750 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 increased to 1.8% from 1.4% in the year-earlier period.

Total revenue climbed 16.1% year over year to 8.0 million ringgits from 6.8 million ringgits, and total operating expenses increased 17.2% year over year to 7.8 million ringgits from 6.7 million ringgits.

Reported net income increased 31.2% on an annual basis to 232,000 ringgits, or 0 sen per share, from 176,850 ringgits, or 0 sen per share.

As of Feb. 24, US$1 was equivalent to 4.24 ringgits.