Phol Dhanya Public Company Ltd said its third-quarter normalized net income came to 2 satang per share, a decrease of 73.8% from 6 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.7 million baht, a decline of 73.8% from 10.3 million baht in the prior-year period.

The normalized profit margin declined to 1.2% from 4.7% in the year-earlier period.

Total revenue increased 4.9% year over year to 227.1 million baht from 216.4 million baht, and total operating expenses grew 8.8% on an annual basis to 219.0 million baht from 201.2 million baht.

Reported net income declined 79.5% year over year to 2.6 million baht, or 2 satang per share, from 12.7 million baht, or 8 satang per share.

As of Nov. 9, US$1 was equivalent to 35.94 baht.