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Caring Pharmacy fiscal Q3 profit falls YOY

Caring Pharmacy Group Bhd. said its normalized net income for the fiscal third quarter ended Feb. 29 amounted to 1.3 million ringgits, a decrease of 79.9% from 6.6 million ringgits 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 1.3% from 7.0% in the year-earlier period.

Total revenue rose 10.1% on an annual basis to 103.4 million ringgits from 93.9 million ringgits, and total operating expenses increased 20.8% from the prior-year period to 100.2 million ringgits from 83.0 million ringgits.

Reported net income fell 78.7% year over year to 1.6 million ringgits, or 1 sen per share, from 7.6 million ringgits, or 3 sen per share.

As of April 27, US$1 was equivalent to 3.93 ringgits.