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Depo Auto Parts Industrial Q1 profit climbs 61.1% YOY

Depo Auto Parts Industrial Co. Ltd. said its normalized net income for the first quarter was NT$2.05 per share, a gain of 60.7% from NT$1.28 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$343.3 million, a gain of 61.1% from NT$213.1 million in the prior-year period.

The normalized profit margin climbed to 8.3% from 6.0% in the year-earlier period.

Total revenue increased 17.4% year over year to NT$4.14 billion from NT$3.53 billion, and total operating expenses increased 14.1% from the prior-year period to NT$3.49 billion from NT$3.05 billion.

Reported net income grew 42.6% from the prior-year period to NT$411.3 million, or NT$2.46 per share, from NT$288.5 million, or NT$1.73 per share.

As of May 12, US$1 was equivalent to NT$32.56.