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Mintye fiscal Q3 profit falls YOY

Mintye Bhd. said its normalized net income for the fiscal third quarter ended Oct. 31 came to 485,630 ringgits, a fall of 36.6% from 766,250 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 dropped to 4.2% from 6.2% in the year-earlier period.

Total revenue decreased 6.7% on an annual basis to 11.5 million ringgits from 12.3 million ringgits, and total operating expenses declined on an annual basis to 10.7 million ringgits from 11.1 million ringgits.

Reported net income declined 34.2% from the prior-year period to 574,000 ringgits, or 1 sen per share, from 873,000 ringgits, or 1 sen per share.

As of Dec. 24, US$1 was equivalent to 3.50 ringgits.