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ARIP PCL swings to loss in Q1

ARIP PCL said its first-quarter normalized net income amounted to a loss of 689,380 baht, compared with income of 468,750 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 declined to 0.2% from 0.5% in the year-earlier period.

Total revenue declined 47.1% year over year to 45.4 million baht from 85.8 million baht, and total operating expenses fell 45.4% from the prior-year period to 46.6 million baht from 85.4 million baht.

Reported net income came to a loss of 292,000 baht, or a loss of 0 satang per share, compared to income of 556,000 baht, or 0 satang per share, in the year-earlier period.

As of May 12, US$1 was equivalent to 35.33 baht.