S&P Syndicate PCL said its second-quarter normalized net income was 12 satang per share, a decline of 35.7% from 19 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 60.3 million baht, a decrease of 35.7% from 93.7 million baht in the prior-year period.

The normalized profit margin declined to 3.3% from 5.4% in the year-earlier period.

Total revenue increased 6.4% year over year to 1.84 billion baht from 1.73 billion baht, and total operating expenses increased 8.5% on an annual basis to 1.74 billion baht from 1.61 billion baht.

Reported net income grew 8.5% on an annual basis to 136.5 million baht, or 28 satang per share, from 125.8 million baht, or 26 satang per share.

As of Aug. 11, US$1 was equivalent to 34.73 baht.