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Padini Holdings fiscal Q1 profit falls YOY

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Padini Holdings fiscal Q1 profit falls YOY

Padini Holdings Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 3 Malaysian sen per share, a decline of 31.4% from 4 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 16.7 million ringgits, a decrease of 31.4% from 24.4 million ringgits in the year-earlier period.

The normalized profit margin fell to 7.4% from 11.2% in the year-earlier period.

Total revenue grew on an annual basis to 226.7 million ringgits from 217.2 million ringgits, and total operating expenses grew 12.0% on an annual basis to 201.5 million ringgits from 180.0 million ringgits.

Reported net income fell 30.6% year over year to 19.2 million ringgits, or 3 sen per share, from 27.7 million ringgits, or 4 sen per share.

As of Nov. 26, US$1 was equivalent to 3.35 ringgits.