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TA Global fiscal Q1 profit climbs 92.0% YOY

TA Global Bhd. said its normalized net income for the fiscal first quarter ended April 30 amounted to 61.9 million ringgits, a rise of 92.0% from 32.2 million ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 30.0% from 18.5% in the year-earlier period.

Total revenue rose 18.3% on an annual basis to 206.5 million ringgits from 174.5 million ringgits, and total operating expenses fell 5.0% year over year to 120.6 million ringgits from 127.0 million ringgits.

Reported net income grew 72.1% from the prior-year period to 81.5 million ringgits, or 2 sen per share, from 47.3 million ringgits, or 1 sen per share.

As of June 30, US$1 was equivalent to 3.21 ringgits.