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Karex fiscal Q3 profit climbs 28.1% YOY

Karex Bhd. said its normalized net income for the fiscal third quarter ended March 31 came to 10.8 million ringgits, a rise of 28.1% from 8.4 million ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 15.1% from 11.3% in the year-earlier period.

Total revenue decreased on an annual basis to 71.4 million ringgits from 74.6 million ringgits, and total operating expenses fell 10.8% year over year to 54.7 million ringgits from 61.4 million ringgits.

Reported net income increased 31.8% from the prior-year period to 15.2 million ringgits, or 2 sen per share, from 11.5 million ringgits, or 1 sen per share.

As of May 28, US$1 was equivalent to 3.65 ringgits.