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Khon Kaen Sugar Industry fiscal Q2 profit falls YOY

Khon Kaen Sugar Industry Public Company Ltd said its normalized net income for the fiscal second quarter ended April 30 was 7 satang per share, a decrease of 16.3% from 9 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 324.3 million baht, a decrease of 16.3% from 387.3 million baht in the prior-year period.

The normalized profit margin dropped to 8.2% from 10.2% in the year-earlier period.

Total revenue climbed 16.5% year over year to 4.41 billion baht from 3.79 billion baht, and total operating expenses grew 28.9% year over year to 3.87 billion baht from 3.00 billion baht.

Reported net income decreased 25.9% on an annual basis to 465.3 million baht, or 11 satang per share, from 628.0 million baht, or 14 satang per share.

As of June 12, US$1 was equivalent to 33.68 baht.