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Jaycorp fiscal Q3 profit climbs 80.1% YOY

Jaycorp Bhd. said its normalized net income for the fiscal third quarter ended April 30 amounted to 2 Malaysian sen per share, a gain of 80.1% from 1 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 2.8 million ringgits, a gain of 80.1% from 1.6 million ringgits in the prior-year period.

The normalized profit margin rose to 4.8% from 2.9% in the year-earlier period.

Total revenue grew 8.9% on an annual basis to 59.6 million ringgits from 54.8 million ringgits, and total operating expenses grew year over year to 52.8 million ringgits from 51.6 million ringgits.

Reported net income grew 83.8% on an annual basis to 4.0 million ringgits, or 3 sen per share, from 2.2 million ringgits, or 2 sen per share.

As of June 25, US$1 was equivalent to 3.75 ringgits.