Asian Phytoceuticals Public Company Ltd said its fourth-quarter normalized net income came to 28.9 million baht, a rise from 13.3 million baht in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to 22.8% from 13.6% in the year-earlier period.
Total revenue rose 29.4% year over year to 126.7 million baht from 97.9 million baht, and total operating expenses grew year over year to 81.9 million baht from 78.5 million baht.
Reported net income rose from the prior-year period to 37.0 million baht, or 1 satang per share, from 17.4 million baht, or 1 satang per share.
For the year, the company's normalized net income totaled 3 satang per share, a decline of 19.4% from 4 satang per share in the prior year.
Normalized net income was 78.4 million baht, a decline of 15.1% from 92.4 million baht in the prior year.
Full-year total revenue decreased on an annual basis to 409.3 million baht from 425.8 million baht, and total operating expenses rose year over year to 290.1 million baht from 285.2 million baht.
The company said reported net income decreased 15.3% year over year to 100.6 million baht, or 4 satang per share, in the full year, from 118.8 million baht, or 5 satang per share.
As of Feb. 24, US$1 was equivalent to 35.69 baht.