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Power Root fiscal Q3 profit falls YOY

Power Root Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 2 Malaysian sen per share, a decline of 21.0% from 2 sen per share in the third quarter ended Nov. 30, 2013.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.9 million ringgits, a decline of 22.3% from 7.5 million ringgits in the third quarter ended Nov. 30, 2013.

The normalized profit margin declined to 6.1% from 9.9% in the year-earlier period.

Total revenue grew 26.7% on an annual basis to 96.4 million ringgits from 76.1 million ringgits, and total operating expenses increased 32.5% from the prior-year period to 84.7 million ringgits from 63.9 million ringgits.

Reported net income grew 13.0% year over year to 9.7 million ringgits, or 3 sen per share, from 8.6 million ringgits, or 3 sen per share.

As of Feb. 27, US$1 was equivalent to 3.61 ringgits.