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Kang Yong Electric fiscal Q4 profit climbs YOY

Kang Yong Electric PCL said its normalized net income for the fiscal fourth quarter ended March 31 was 5.47 baht per share, a gain from 32 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 120.4 million baht, an increase from 7.1 million baht in the prior-year period.

The normalized profit margin increased to 5.7% from 0.3% in the year-earlier period.

Total revenue totaled 2.10 billion baht, compared with 2.12 billion baht in the year-earlier period, and total operating expenses fell year over year to 2.08 billion baht from 2.13 billion baht.

Reported net income grew on an annual basis to 184.1 million baht, or 8.37 baht per share, from 10.1 million baht, or 46 satang per share.

For the year, the company's normalized net income totaled 28.60 baht per share, a gain of 79.3% from 15.96 baht per share in the prior year.

Normalized net income was 629.2 million baht, a gain of 79.3% from 351.0 million baht in the prior year.

Full-year total revenue grew on an annual basis to 8.69 billion baht from 8.46 billion baht, and total operating expenses grew year over year to 8.40 billion baht from 8.29 billion baht.

The company said reported net income grew 83.2% year over year to 926.9 million baht, or 42.13 baht per share, in the full year, from 506.0 million baht, or 23.00 baht per share.

As of May 21, US$1 was equivalent to 33.42 baht.