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Inari Amertron fiscal Q2 profit climbs YOY

Inari Amertron Berhad said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 26.6 million ringgits, a gain from 26.0 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 dropped to 9.1% from 11.4% in the year-earlier period.

Total revenue grew 28.8% on an annual basis to 293.6 million ringgits from 227.9 million ringgits, and total operating expenses climbed 32.9% from the prior-year period to 247.3 million ringgits from 186.2 million ringgits.

Reported net income grew on an annual basis to 41.2 million ringgits, or 1 sen per share, from 40.4 million ringgits, or 2 sen per share.

As of Feb. 23, US$1 was equivalent to 4.22 ringgits.