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Rakhat Q2 profit falls YOY

Rakhat JSC said its normalized net income for the second quarter was 127.78 tenge per share, a decline from 132.54 tenge per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 460.0 million tenge, a decrease from 477.2 million tenge in the prior-year period.

The normalized profit margin rose to 6.0% from 5.6% in the year-earlier period.

Total revenue decreased 11.0% on an annual basis to 7.53 billion tenge from 8.46 billion tenge, and total operating expenses fell 10.8% from the prior-year period to 6.89 billion tenge from 7.73 billion tenge.

Reported net income declined 7.0% on an annual basis to 548.1 million tenge, or 152.26 tenge per share, from 589.3 million tenge, or 163.71 tenge per share.

As of Aug. 14, US$1 was equivalent to 188.31 tenge.