Thai Wah Public Co. Ltd said its normalized net income for the second quarter amounted to 9 satang per share, a decrease of 83.5% from 54 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 79.0 million baht, an increase of 84.8% from 42.7 million baht in the year-earlier period.

The normalized profit margin climbed to 5.8% from 4.1% in the year-earlier period.

Total revenue grew 29.3% year over year to 1.35 billion baht from 1.05 billion baht, and total operating expenses grew 21.1% from the prior-year period to 1.21 billion baht from 996.1 million baht.

Reported net income increased 94.4% year over year to 106.8 million baht, or 12 satang per share, from 54.9 million baht, or 70 satang per share.

As of Aug. 10, US$1 was equivalent to 34.75 baht.