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Tea Life fiscal Q3 profit climbs 36.7% YOY

Tea Life Co. Ltd. said its normalized net income for the fiscal third quarter ended April 30 came to ¥19.71 per share, a gain of 36.7% from ¥14.42 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥83.8 million, an increase of 36.7% from ¥61.3 million in the year-earlier period.

The normalized profit margin increased to 4.5% from 3.6% in the year-earlier period.

Total revenue climbed 7.3% year over year to ¥1.84 billion from ¥1.72 billion, and total operating expenses rose 4.9% from the prior-year period to ¥1.70 billion from ¥1.62 billion.

Reported net income totaled ¥39.0 million, or ¥9.18 per share, compared to a loss of ¥12.0 million, or a loss of ¥2.82 per share, in the year-earlier period.

As of June 10, US$1 was equivalent to ¥106.89.