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Inoue Rubber fiscal Q3 profit climbs 38.7% YOY

Inoue Rubber (Thailand) PCL said its normalized net income for the fiscal third quarter ended June 30 was 50 satang per share, a gain of 38.7% from 36 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 100.3 million baht, an increase of 38.7% from 72.3 million baht in the prior-year period.

The normalized profit margin rose to 8.1% from 6.0% in the year-earlier period.

Total revenue grew year over year to 1.23 billion baht from 1.20 billion baht, and total operating expenses decreased from the prior-year period to 1.06 billion baht from 1.08 billion baht.

Reported net income grew 34.3% on an annual basis to 130.5 million baht, or 65 satang per share, from 97.1 million baht, or 49 satang per share.

As of Aug. 10, US$1 was equivalent to 34.75 baht.