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Central Azucarera de Tarlac fiscal Q3 profit climbs 75.9% YOY

Central Azucarera de Tarlac said its normalized net income for the fiscal third quarter ended March 31 amounted to 50 Philippine centavos per share, a gain of 75.8% from 28 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 141.6 million pesos, a gain of 75.9% from 80.5 million pesos in the year-earlier period.

The normalized profit margin climbed to 38.6% from 21.7% in the year-earlier period.

Total revenue rose 18.8% on an annual basis to 440.1 million pesos from 370.4 million pesos, and total operating expenses fell 10.6% year over year to 192.2 million pesos from 215.0 million pesos.

Reported net income increased 45.3% on an annual basis to 187.1 million pesos, or 66 centavos per share, from 128.8 million pesos, or 46 centavos per share.

As of May 21, US$1 was equivalent to 44.53 Philippine pesos.