Carabao Group Public Company Ltd said its third-quarter normalized net income was 31 satang per share, compared with the S&P Capital IQ consensus estimate of 42 satang per share.

EPS climbed 46.0% year over year from 22 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 314.8 million baht, an increase of 46.0% from 215.7 million baht in the prior-year period.

The normalized profit margin increased to 11.7% from 11.1% in the year-earlier period.

Total revenue grew 38.2% on an annual basis to 2.69 billion baht from 1.95 billion baht, and total operating expenses grew 36.4% from the prior-year period to 2.19 billion baht from 1.61 billion baht.

Reported net income increased 46.6% on an annual basis to 439.5 million baht, or 44 satang per share, from 299.7 million baht, or 30 satang per share.

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