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Sichuan Datong Gas Development swings to loss in Q3

Sichuan Datong Gas Development Co. Ltd. said its third-quarter normalized net income came to a loss of 2.5 million yuan, compared with income of 2.2 million yuan in the year-earlier period.

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

The normalized profit margin fell to negative 2.1% from 2.3% in the year-earlier period.

Total revenue climbed 27.0% on an annual basis to 119.4 million yuan from 94.1 million yuan, and total operating expenses increased 35.9% year over year to 121.8 million yuan from 89.6 million yuan.

Reported net income came to a loss of 2.0 million yuan, or a loss of 1 fen per share, compared to income of 2.8 million yuan, or 1 fen per share, in the year-earlier period.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.