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SBI FinTech Solutions fiscal Q3 profit climbs 19.0% YOY

SBI FinTech Solutions Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 47.48 South Korean won per share, a gain of 19.7% from 39.65 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.01 billion won, an increase of 19.0% from 849.3 million won in the year-earlier period.

The normalized profit margin rose to 5.8% from 5.6% in the year-earlier period.

Total revenue grew 13.6% year over year to 17.37 billion won from 15.29 billion won, and total operating expenses rose 9.7% on an annual basis to 15.89 billion won from 14.48 billion won.

Reported net income rose 29.9% on an annual basis to 1.09 billion won, or 51.00 won per share, from 835.4 million won, or 39.00 won per share.

As of Feb. 15, US$1 was equivalent to 1,212.28 South Korean won.