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DPS Resources fiscal Q3 profit falls YOY

DPS Resources Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 341,250 ringgits, a decrease of 54.9% from 756,880 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 declined to negative 6.0% from 3.2% in the year-earlier period.

Total revenue fell 38.0% on an annual basis to 14.8 million ringgits from 23.8 million ringgits, and total operating expenses fell 30.2% year over year to 14.1 million ringgits from 20.2 million ringgits.

Reported net income decreased 54.9% on an annual basis to 546,000 ringgits, or 0 sen per share, from 1.2 million ringgits, or 0 sen per share.

As of Feb. 29, US$1 was equivalent to 4.21 ringgits.