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Jaycorp fiscal Q1 profit falls YOY

Jaycorp Bhd. said its normalized net income for the fiscal first quarter ended Oct. 31 came to 1.2 million ringgits, a fall of 30.0% from 1.7 million ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 1.9% from 3.0% in the year-earlier period.

Total revenue climbed 11.3% on an annual basis to 64.3 million ringgits from 57.8 million ringgits, and total operating expenses climbed 12.1% on an annual basis to 60.4 million ringgits from 53.9 million ringgits.

Reported net income fell 47.7% year over year to 1.2 million ringgits, or 1 sen per share, from 2.2 million ringgits, or 2 sen per share.

As of Dec. 18, US$1 was equivalent to 3.47 ringgits.