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Karmarts Q1 profit climbs 10.6% YOY

Karmarts PCL said its normalized net income for the first quarter came to 4 satang per share, an increase of 8.8% from 4 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 35.2 million baht, an increase of 10.6% from 31.8 million baht in the year-earlier period.

The normalized profit margin dropped to 11.8% from 14.3% in the year-earlier period.

Total revenue rose 34.4% year over year to 300.0 million baht from 223.2 million baht, and total operating expenses increased 41.8% on an annual basis to 241.1 million baht from 170.0 million baht.

Reported net income grew from the prior-year period to 41.6 million baht, or 5 satang per share, from 40.9 million baht, or 5 satang per share.

As of May 13, US$1 was equivalent to 33.55 baht.