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Mintye fiscal Q2 profit falls YOY

Mintye Bhd. said its normalized net income for the fiscal second quarter ended July 31 came to 601,000 ringgits, a decrease of 9.8% from 666,250 ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 4.3% from 5.8% in the year-earlier period.

Total revenue increased 18.7% year over year to 13.6 million ringgits from 11.4 million ringgits, and total operating expenses climbed 21.6% on an annual basis to 12.6 million ringgits from 10.4 million ringgits.

Reported net income declined 41.2% on an annual basis to 709,000 ringgits, or 1 sen per share, from 1.2 million ringgits, or 2 sen per share.

As of Sept. 26, US$1 was equivalent to 3.26 ringgits.