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Power Root fiscal Q1 profit climbs YOY

Power Root Bhd. said its normalized net income for the fiscal first quarter ended June 30 was 4 Malaysian sen per share, a gain from 2 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 11.7 million ringgits, an increase from 5.5 million ringgits in the year-earlier period.

The normalized profit margin increased to 10.5% from 5.8% in the year-earlier period.

Total revenue climbed 17.6% on an annual basis to 111.4 million ringgits from 94.8 million ringgits, and total operating expenses increased 7.1% on an annual basis to 91.5 million ringgits from 85.4 million ringgits.

Reported net income increased from the prior-year period to 14.7 million ringgits, or 5 sen per share, from 7.2 million ringgits, or 2 sen per share.

As of Aug. 25, US$1 was equivalent to 4.19 ringgits.