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DRB-HICOM fiscal Q2 profit falls YOY

DRB-HICOM Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 1 Malaysian sen per share, a decline of 75.1% from 4 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 20.1 million ringgits, a decline of 75.1% from 80.8 million ringgits in the year-earlier period.

The normalized profit margin declined to 0.6% from 2.5% in the year-earlier period.

Total revenue came to 3.25 billion ringgits, compared with 3.22 billion ringgits in the year-earlier period, and total operating expenses increased year over year to 3.18 billion ringgits from 3.05 billion ringgits.

Reported net income fell 75.0% from the prior-year period to 23.3 million ringgits, or 1 sen per share, from 93.1 million ringgits, or 5 sen per share.

As of Nov. 26, US$1 was equivalent to 4.23 ringgits.