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Tea Life fiscal Q3 profit falls YOY

Tea Life Co. Ltd. said its normalized net income for the fiscal third quarter ended April 30 amounted to ¥14.42 per share, a decrease of 26.3% from ¥19.56 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥61.3 million, a decline of 26.3% from ¥83.1 million in the year-earlier period.

The normalized profit margin declined to 3.6% from 5.2% in the year-earlier period.

Total revenue rose 6.7% year over year to ¥1.72 billion from ¥1.61 billion, and total operating expenses grew 9.6% from the prior-year period to ¥1.62 billion from ¥1.48 billion.

Reported net income came to a loss of ¥12.0 million, or a loss of ¥2.82 per share, compared to income of ¥70.0 million, or ¥16.47 per share, in the prior-year period.

As of June 12, US$1 was equivalent to ¥123.29.