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Mintye fiscal Q2 profit climbs 87.1% YOY

Mintye Berhad said its normalized net income for the fiscal second quarter ended July 31 came to 1.1 million ringgits, an increase of 87.1% from 586,000 ringgits in the year-earlier period.

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

The normalized profit margin rose to 8.6% from 4.3% in the year-earlier period.

Total revenue fell 7.9% on an annual basis to 12.5 million ringgits from 13.6 million ringgits, and total operating expenses decreased 14.9% on an annual basis to 10.7 million ringgits from 12.6 million ringgits.

Reported net income grew 86.7% year over year to 1.3 million ringgits, or 2 sen per share, from 709,000 ringgits, or 1 sen per share.

As of Sept. 30, US$1 was equivalent to 4.39 ringgits.