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Thai Steel Cable fiscal Q3 profit falls YOY

Thai Steel Cable Public Company Ltd said its normalized net income for the fiscal third quarter ended June 30 amounted to 7 satang per share, a decrease of 26.9% from 10 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 19.1 million baht, a decrease of 26.9% from 26.1 million baht in the year-earlier period.

The normalized profit margin declined to 2.7% from 3.8% in the year-earlier period.

Total revenue grew year over year to 708.0 million baht from 689.9 million baht, and total operating expenses climbed year over year to 672.9 million baht from 644.0 million baht.

Reported net income fell 22.0% on an annual basis to 31.3 million baht, or 12 satang per share, from 40.1 million baht, or 15 satang per share.

As of Aug. 10, US$1 was equivalent to 34.75 baht.