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LTKM Bhd. fiscal Q2 profit falls YOY

LTKM Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 3 Malaysian sen per share, a decline of 45.5% from 5 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.8 million ringgits, a decrease of 45.5% from 7.0 million ringgits in the year-earlier period.

The normalized profit margin declined to 8.8% from 14.5% in the year-earlier period.

Total revenue declined 10.7% on an annual basis to 43.0 million ringgits from 48.1 million ringgits, and total operating expenses increased from the prior-year period to 37.8 million ringgits from 37.1 million ringgits.

Reported net income fell 39.1% year over year to 4.7 million ringgits, or 4 sen per share, from 7.7 million ringgits, or 6 sen per share.

As of Nov. 25, US$1 was equivalent to 4.21 ringgits.