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Berjaya Land fiscal Q2 profit falls YOY

Berjaya Land Bhd. said its normalized net income for the fiscal second quarter ended Oct. 31 amounted to 17.3 million ringgits, a decrease of 8.6% from 19.0 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 1.2% from 1.8% in the year-earlier period.

Total revenue climbed 35.5% year over year to 1.41 billion ringgits from 1.04 billion ringgits, and total operating expenses grew 43.5% on an annual basis to 1.26 billion ringgits from 876.1 million ringgits.

Reported net income declined 29.0% from the prior-year period to 9.0 million ringgits, or 0 sen per share, from 12.6 million ringgits, or 0 sen per share.

As of Dec. 22, US$1 was equivalent to 3.50 ringgits.