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Karex fiscal Q1 profit climbs 64.4% YOY

Karex Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 was 2 Malaysian sen per share, a gain of 49.5% from 1 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 16.8 million ringgits, a gain of 64.4% from 10.2 million ringgits in the year-earlier period.

The normalized profit margin increased to 22.1% from 14.6% in the year-earlier period.

Total revenue increased 8.5% on an annual basis to 76.1 million ringgits from 70.1 million ringgits, and total operating expenses declined 6.1% from the prior-year period to 50.7 million ringgits from 54.0 million ringgits.

Reported net income rose 73.7% from the prior-year period to 22.3 million ringgits, or 2 sen per share, from 12.8 million ringgits, or 1 sen per share.

As of Nov. 30, US$1 was equivalent to 4.25 ringgits.