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Depo Auto Parts Industrial Q2 profit falls YOY

Depo Auto Parts Industrial Co. Ltd. said its second-quarter normalized net income came to NT$1.45 per share, a decrease of 8.0% from NT$1.58 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$241.6 million, a decline of 8.4% from NT$263.7 million in the year-earlier period.

The normalized profit margin dropped to 6.3% from 7.3% in the year-earlier period.

Total revenue increased 6.1% year over year to NT$3.82 billion from NT$3.60 billion, and total operating expenses grew 6.9% year over year to NT$3.35 billion from NT$3.13 billion.

Reported net income decreased 13.9% year over year to NT$233.0 million, or NT$1.40 per share, from NT$270.7 million, or NT$1.62 per share.

As of Aug. 12, US$1 was equivalent to NT$31.39.