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Berjaya Land fiscal Q1 profit falls YOY

Berjaya Land Bhd. said its normalized net income for the fiscal first quarter ended July 31 amounted to 34.0 million ringgits, a decrease of 54.4% from 74.7 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 dropped to 2.4% from 7.3% in the year-earlier period.

Total revenue rose 37.3% year over year to 1.41 billion ringgits from 1.03 billion ringgits, and total operating expenses climbed 61.0% on an annual basis to 1.27 billion ringgits from 789.2 million ringgits.

Reported net income declined 63.3% year over year to 37.7 million ringgits, or 1 sen per share, from 102.5 million ringgits, or 2 sen per share.

As of Sept. 22, US$1 was equivalent to 3.24 ringgits.