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Turiya fiscal Q3 profit falls YOY

Turiya Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 390,000 ringgits, a decrease of 45.0% from 709,500 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 fell to 6.7% from 10.3% in the year-earlier period.

Total revenue decreased 14.7% on an annual basis to 5.9 million ringgits from 6.9 million ringgits, and total operating expenses declined 13.8% year over year to 4.3 million ringgits from 5.0 million ringgits.

Reported net income decreased 30.7% on an annual basis to 677,000 ringgits, or 0 sen per share, from 977,000 ringgits, or 0 sen per share.

As of Feb. 16, US$1 was equivalent to 4.21 ringgits.