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TianJin Motor Dies Q1 profit climbs 33.8% YOY

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TianJin Motor Dies Q1 profit climbs 33.8% YOY

TianJin Motor Dies Co. Ltd. said its normalized net income for the first quarter amounted to 2 fen per share, an increase of 10.6% from 1 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 13.7 million yuan, a gain of 33.8% from 10.3 million yuan in the year-earlier period.

The normalized profit margin climbed to 4.7% from 4.2% in the year-earlier period.

Total revenue climbed 24.2% year over year to 305.1 million yuan from 245.6 million yuan, and total operating expenses rose 24.3% from the prior-year period to 285.2 million yuan from 229.6 million yuan.

Reported net income totaled 17.9 million yuan, or 2 fen per share, compared to 14.8 million yuan, or 2 fen per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 6.20 yuan.