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Pangrim fiscal Q2 profit climbs 93.0% YOY

Pangrim Co. Ltd. said its normalized net income for the fiscal second quarter ended March 31 amounted to 289.16 South Korean won per share, an increase of 96.0% from 147.51 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.17 billion won, an increase of 93.0% from 605.9 million won in the prior-year period.

The normalized profit margin rose to 3.0% from 1.4% in the year-earlier period.

Total revenue fell 11.0% year over year to 38.69 billion won from 43.48 billion won, and total operating expenses fell 13.3% year over year to 36.91 billion won from 42.59 billion won.

Reported net income rose year over year to 3.13 billion won, or 773.64 won per share, from 242.4 million won, or 59.01 won per share.

As of June 1, US$1 was equivalent to 1,115.34 South Korean won.