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Kang Yong Electric fiscal Q3 profit climbs 86.2% YOY

Kang Yong Electric PCL said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 8.23 baht per share, a gain of 86.2% from 4.42 baht per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 181.0 million baht, an increase of 86.2% from 97.2 million baht in the year-earlier period.

The normalized profit margin climbed to 9.8% from 5.6% in the year-earlier period.

Total revenue rose 6.9% year over year to 1.86 billion baht from 1.74 billion baht, and total operating expenses climbed from the prior-year period to 1.82 billion baht from 1.78 billion baht.

Reported net income rose 75.1% on an annual basis to 274.5 million baht, or 12.48 baht per share, from 156.8 million baht, or 7.13 baht per share.

As of Feb. 11, US$1 was equivalent to 32.69 baht.