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Greenyield fiscal Q2 profit falls YOY

Greenyield Bhd. said its normalized net income for the fiscal second quarter ended Jan. 31 was 931,250 ringgits, a decrease of 61.2% from 2.4 million ringgits in the year-earlier period.

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

The normalized profit margin declined to 10.7% from 15.2% in the year-earlier period.

Total revenue fell 44.6% on an annual basis to 8.7 million ringgits from 15.8 million ringgits, and total operating expenses decreased 39.5% from the prior-year period to 7.2 million ringgits from 12.0 million ringgits.

Reported net income decreased 61.9% on an annual basis to 1.1 million ringgits, or 0 sen per share, from 2.8 million ringgits, or 1 sen per share.

As of March 19, US$1 was equivalent to 3.70 ringgits.