Tipco Foods Public Company Ltd said its third-quarter normalized net income came to 6 satang per share, a decline of 86.3% from 41 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 28.2 million baht, a decrease of 85.8% from 198.6 million baht in the year-earlier period.

The normalized profit margin declined to 2.3% from 18.2% in the year-earlier period.

Total revenue rose 10.3% year over year to 1.20 billion baht from 1.09 billion baht, and total operating expenses rose 14.5% from the prior-year period to 1.22 billion baht from 1.06 billion baht.

Reported net income decreased 85.7% from the prior-year period to 45.1 million baht, or 9 satang per share, from 314.3 million baht, or 65 satang per share.

As of Nov. 11, US$1 was equivalent to 35.43 baht.