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Xhyungji Elite fiscal Q3 profit falls YOY

Xhyungji Elite Co. Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 62.99 South Korean won per share, a decline of 62.8% from 169.22 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 876.6 million won, a decrease of 57.3% from 2.05 billion won in the year-earlier period.

The normalized profit margin declined to 3.9% from 6.7% in the year-earlier period.

Total revenue decreased 25.6% on an annual basis to 22.67 billion won from 30.47 billion won, and total operating expenses decreased 23.3% from the prior-year period to 21.25 billion won from 27.71 billion won.

Reported net income decreased 56.5% year over year to 1.07 billion won, or 77.07 won per share, from 2.46 billion won, or 203.00 won per share.

As of May 29, US$1 was equivalent to 1,113.21 South Korean won.