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O&C Resources swings to profit in fiscal Q3

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O&C Resources swings to profit in fiscal Q3

OCR Group Berhad said its normalized net income for the fiscal third quarter ended April 30 amounted to 1.6 million ringgits, compared with a loss of 836,880 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 increased to 6.7% from negative 9.7% in the year-earlier period.

Total revenue increased on an annual basis to 23.4 million ringgits from 8.6 million ringgits, and total operating expenses rose year over year to 21.0 million ringgits from 9.9 million ringgits.

Reported net income totaled 1.1 million ringgits, or 0 sen per share, compared to a loss of 1.3 million ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of June 21, US$1 was equivalent to 4.29 ringgits.