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Carozzi Q3 profit falls YOY

Carozzi SA said its normalized net income for the third quarter came to 27.33 Chilean pesos per share, a decrease of 15.5% from 32.35 pesos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.12 billion pesos, a decrease of 15.8% from 7.28 billion pesos in the prior-year period.

The normalized profit margin fell to 3.3% from 4.1% in the year-earlier period.

Total revenue climbed year over year to 184.43 billion pesos from 176.12 billion pesos, and total operating expenses increased 5.9% from the prior-year period to 165.40 billion pesos from 156.20 billion pesos.

Reported net income decreased 17.4% on an annual basis to 7.62 billion pesos, or 34.00 pesos per share, from 9.22 billion pesos, or 41.00 pesos per share.

As of Nov. 24, US$1 was equivalent to 710.25 Chilean pesos.