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TeleMasters fiscal Q3 profit falls YOY

TeleMasters Holdings Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 4,940 rand, a decline of 82.8% from 28,670 rand in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 0.0% from 0.1% in the year-earlier period.

Total revenue grew 13.8% year over year to 27.7 million rand from 24.3 million rand, and total operating expenses increased 13.9% year over year to 27.6 million rand from 24.3 million rand.

Reported net income decreased 83.8% from the prior-year period to 6,340 rand, or 0 cents per share, from 39,170 rand, or 0 cents per share.

As of June 30, US$1 was equivalent to 14.66 rand.