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Inoue Rubber fiscal Q3 profit climbs 40.3% YOY

Inoue Rubber (Thailand) PCL said its normalized net income for the fiscal third quarter ended June 30 was 36 satang per share, a gain of 40.3% from 26 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 72.3 million baht, an increase of 40.3% from 51.5 million baht in the prior-year period.

The normalized profit margin rose to 6.0% from 3.9% in the year-earlier period.

Total revenue declined 8.4% on an annual basis to 1.20 billion baht from 1.31 billion baht, and total operating expenses declined 11.7% year over year to 1.08 billion baht from 1.22 billion baht.

Reported net income grew 36.4% on an annual basis to 97.1 million baht, or 49 satang per share, from 71.2 million baht, or 36 satang per share.

As of Aug. 11, US$1 was equivalent to 35.39 baht.