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Karex fiscal Q3 profit falls YOY

Karex Bhd. said its normalized net income for the fiscal third quarter ended March 31 was 6.9 million ringgits, a decline of 36.2% from 10.8 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 7.8% from 15.1% in the year-earlier period.

Total revenue grew 23.6% year over year to 88.2 million ringgits from 71.4 million ringgits, and total operating expenses rose 41.4% from the prior-year period to 77.4 million ringgits from 54.7 million ringgits.

Reported net income decreased 36.7% year over year to 9.6 million ringgits, or 1 sen per share, from 15.2 million ringgits, or 2 sen per share.

As of May 27, US$1 was equivalent to 4.08 ringgits.