Thai Rung Union Car Public Company Ltd said its second-quarter normalized net income came to 3 satang per share, a gain of 38.1% from 2 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.3 million baht, a gain of 38.2% from 11.1 million baht in the prior-year period.

The normalized profit margin rose to 3.1% from 2.2% in the year-earlier period.

Total revenue fell on an annual basis to 485.9 million baht from 505.1 million baht, and total operating expenses declined 6.5% year over year to 496.4 million baht from 530.9 million baht.

Reported net income rose 49.5% from the prior-year period to 27.3 million baht, or 5 satang per share, from 18.3 million baht, or 3 satang per share.

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