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Pranda Jewelry swings to loss in Q2

Pranda Jewelry Public Co. Ltd said its second-quarter normalized net income was a loss of 12 satang per share, compared with 7 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 a loss of 47.1 million baht, compared with income of 27.2 million baht in the year-earlier period.

The normalized profit margin fell to negative 6.6% from 4.7% in the year-earlier period.

Total revenue increased 24.9% year over year to 715.7 million baht from 573.2 million baht, and total operating expenses grew 27.2% from the prior-year period to 758.4 million baht from 596.4 million baht.

Reported net income totaled a loss of 70.8 million baht, or a loss of 18 satang per share, compared to income of 54.3 million baht, or 13 satang per share, in the year-earlier period.

As of Aug. 10, US$1 was equivalent to 34.75 baht.