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Teo Guan Lee fiscal Q3 profit falls YOY

Teo Guan Lee Corp. Bhd. said its normalized net income for the fiscal third quarter ended March 31 came to 97,750 ringgits, a fall of 28.1% from 136,000 ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 0.5% from 0.7% in the year-earlier period.

Total revenue declined 10.8% year over year to 18.2 million ringgits from 20.5 million ringgits, and total operating expenses declined 10.8% on an annual basis to 18.1 million ringgits from 20.3 million ringgits.

Reported net income increased 23.1% year over year to 128,000 ringgits, or 0 sen per share, from 104,000 ringgits, or 0 sen per share.

As of May 25, US$1 was equivalent to 4.10 ringgits.