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QL Resources fiscal Q3 profit falls YOY

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QL Resources fiscal Q3 profit falls YOY

QL Resources Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 3 Malaysian sen per share, a decrease from 3 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 41.6 million ringgits, a decrease from 42.9 million ringgits in the year-earlier period.

The normalized profit margin dropped to 5.6% from 5.9% in the year-earlier period.

Total revenue totaled 738.0 million ringgits, compared with 732.8 million ringgits in the prior-year period, and total operating expenses came to 654.9 million ringgits, compared with 654.3 million ringgits in the prior-year period.

Reported net income grew from the prior-year period to 57.9 million ringgits, or 4 sen per share, from 55.6 million ringgits, or 3 sen per share.

As of Feb. 25, US$1 was equivalent to 4.22 ringgits.