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Thai Rung Union Car Q3 profit falls YOY

Thai Rung Union Car Public Company Ltd said its third-quarter normalized net income came to 5 satang per share, a decrease from 5 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 28.7 million baht, a decline from 29.8 million baht in the year-earlier period.

The normalized profit margin rose to 5.7% from 5.3% in the year-earlier period.

Total revenue fell 10.7% year over year to 503.0 million baht from 563.0 million baht, and total operating expenses declined 8.9% on an annual basis to 496.2 million baht from 544.8 million baht.

Reported net income increased 5.6% on an annual basis to 46.1 million baht, or 8 satang per share, from 43.7 million baht, or 7 satang per share.

As of Nov. 12, US$1 was equivalent to 35.85 baht.