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ND Rubber Q1 profit falls YOY

N.D. Rubber PCL said its normalized net income for the first quarter was 2 satang per share, a decline of 75.0% from 7 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 3.6 million baht, a decline of 57.4% from 8.4 million baht in the prior-year period.

The normalized profit margin dropped to 2.1% from 4.6% in the year-earlier period.

Total revenue decreased 5.6% year over year to 174.9 million baht from 185.3 million baht, and total operating expenses came to 169.8 million baht, compared with 171.3 million baht in the prior-year period.

Reported net income fell 56.7% on an annual basis to 4.6 million baht, or 2 satang per share, from 10.7 million baht, or 9 satang per share.

As of May 13, US$1 was equivalent to 33.55 baht.